Automakers: Market under pressure - Volkswagen is changing its China strategy
Volkswagen wants to make increased use of China as an export location. This is also related to market development in the People's Republic. The Wolfsburg-based company is looking primarily at the Southern Hemisphere.
Volkswagen is changing its China strategy due to the weak Chinese car market and increasing competition from the country abroad. The new strategy, "In China, Beyond China", aims to export cars from China to markets in Southeast Asia, southern Africa, and South America through its joint ventures. Volkswagen already exports cars from China to the Middle East, Kazakhstan, and Uzbekistan.
The company's China business has been struggling, with sales dropping 38.5% to 405,800 cars in the third quarter. The Chinese car market has declined by 21.7% in the first nine months of the year, according to the CPCA.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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