Fri, Nov 22, 2024

Volkswagen is in a difficult situation in China

Volkswagen is in a difficult situation in China

Volkswagen Group faces an uphill battle to convince investors it can turn around the bad situation in China.

BYD, the automobile manufacturer that has attracted a lot of attention lately, ended Volkswagen's 15-year leadership in the Chinese market and became China's best-selling automobile brand last year.

Thus, for the first time since 2008, an automobile manufacturer succeeded in surpassing Volkswagen.

Volkswagen sold 4.2 million cars in the Chinese market in 2019. In 2023, this number dropped to 3.2 million.

Volkswagen Group faces an uphill battle to convince investors it can turn around the bad situation in China.

BYD, the automobile manufacturer that has attracted a lot of attention lately, ended Volkswagen's 15-year leadership in the Chinese market and became China's best-selling automobile brand last year.

Thus, for the first time since 2008, an automobile manufacturer succeeded in surpassing Volkswagen.

Volkswagen sold 4.2 million cars in the Chinese market in 2019. In 2023, this number dropped to 3.2 million.

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