Reply To: Volkswagen set to close three German plants and cut thousands of jobs

#292488
Ioniq
Participant

    Yup, historically China accounted for about half of VW sales, whilst the partnership was beneficial to Chinese companies. Geely, BYD etc are now under cutting VW, their market share and profits are plummeting.

    Of course the EU is not liking this and instigated protectionism with levy on Chinese vehicles. Trade wars do not usually end well.

    Most Chinese vehicle production is going to Russia, Western sanctions has created a boom time for the chinese vehicle industry.