Lei Xing
Coverage of Lei Xing in the Nexus archive.
- German carmakers are suffering some of their worst declines ever in China as Q2 sales plunge 30%-41%
German carmakers including Volkswagen, Mercedes-Benz, BMW, and Porsche experienced 30%-41% declines in China sales during Q2 2023 due to weakened domestic demand and intensified competition from Chinese automakers like BYD. Falling sales in China have reduced their overall profits and highlighted challenges from economic slowdowns and fierce price wars in the region.
- Major German carmakers hit by steep China sales plunge as competition heats up
Major German carmakers like Volkswagen, Mercedes-Benz, BMW, and Porsche experienced steep sales declines in China during the April-June quarter, with drops ranging from 30% to 41% year-on-year. The declines are attributed to weakened domestic demand, intensified competition from Chinese automakers like BYD, and China's economic slowdown. Falling sales have squeezed profits and offset gains in other regions.
- 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.