October 28, 2024 at 3:17 pm
#292488
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.