Volkswagen AG (VWAGY)
- Reuters
UPDATE 2-Volkswagen aims to keep China market share stable as price war rages
Volkswagen aims to keep its Chinese market share roughly stable until the end of the decade, the head of its China business said, betting heavy investment will support sales despite a raging price war with local electric vehicle (EV) rivals. The targets for 2030, including Volkswagen's ambition to take a share of around 15% of the Chinese car market in 2030 compared to 14.5% last year, underscores the challenges Europe's top carmaker faces in the world's biggest auto market.
- Reuters
Volkswagen aims to keep China market share stable as price war rages
Volkswagen aims to keep its Chinese market share roughly stable until the end of the decade, the head of its China business said, betting heavy investment will support sales despite a raging price war with local electric vehicle (EV) rivals. The targets for 2030, including Volkswagen's ambition to take a share of around 15% of the Chinese car market in 2030 compared to 14.5% last year, underscores the challenges Europe's top carmaker faces in the world's biggest auto market. "Prices are going faster down than the cost improvements," Volkswagen management board member and head of its China business Ralf Brandstaetter said on Wednesday.
- Associated Press Finance
Volkswagen revamps its approach in China in bid to overtake upstart EV makers
As auto giant Volkswagen AG races to catch up with upstart Chinese competitors, it has drivers like 26-year-old Ren Yiling in mind. The digital features of her Zeekr 001, a European-designed electric car from China's Geely Holding Group, appeal to her. “I once sung karaoke in the car when travelling a long way with my family,” she said.
