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The Nexus
BUSINESSJul 11 · 14:17 UTCWDIV CLICKONDETROITChan Ho-Him, Associated Press

Major German carmakers hit by steep China sales plunge as competition heats up

Major German carmakers including Volkswagen, Mercedes-Benz, BMW, and Porsche experienced steep quarterly sales declines in China, with drops ranging from 30% to 41% compared to the same period last year. The declines were driven by weakened domestic demand, intense competition from Chinese automakers like BYD, and a broader economic slowdown in China.

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VolkswagenorganizationMercedes-BenzorganizationBMWorganizationPorscheorganizationBYDorganizationChinaplaceLei XingpersonChina Association of Automobile ManufacturersorganizationAlixPartnersorganizationStephen Dyerpersonelectric vehicles (EVs)topic
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