Volkswagen after weak trade in China: “We want to win without balance”

Volkswagen after weak trade in China: “We want to win without balance”

Volkswagen Group sales in its largest market in China fell by 14 percent last year. The reason given by incumbent VW China boss Stephan Wöllenstein to reporters in Beijing on Tuesday was the lack of semiconductors and problems in supply chains. “It’s been a very difficult year.”

Volkswagen vz
(WKN: 766403)

The deficit essentially affected Volkswagen and Skoda brands, reported Wöllenstein, who, as is already known, will soon be replaced by VW China. Audi’s first edition did poorly by reducing 3.6 percent. Porsche was even able to sell 8 percent more cars and Bentley even 43 percent more cars. The market as a whole had grown by four percent.

The market share of Volkswagen Group in China, which for a long time was 14 or 15 percent, dropped to 11 percent. This year, however, Volkswagen wants to reconvene, as Wöllenstein said. While the wholesale market is expected to grow by four per cent, Volkswagen intends to increase by 15 per cent. “We want to win by a large margin of what we lost last year.”

Sales of electric vehicles from the Volkswagen brand family grew positively towards the end of the year. After missing the 2021 target of 80,000 to 100,000 and actually selling “over 70,000”, Wöllenstein wants “at least” sales twice this year. He was confident that Volkswagen could sell any ID car that could be built.

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(With material from dpa-AFX)