Stellantis CEO Volkswagen and General Motors face pressure in China
Stellantis CEO, Volkswagen, and General Motors under pressure in China
【Phoneauto News】Recently, Phoneauto noticed that after releasing its performance report on July 26th, Stellantis NV, the European car manufacturer, expressed satisfaction with the decision to downsize in the world’s largest car market. The CEO stated that they are facing pressure in China from local competitors, such as Volkswagen and General Motors, who have reduced their prices. “Some of our Western counterparts, such as Volkswagen and General Motors, are currently facing pressure in China,” said Carlos Tavares, CEO of Stellantis. “They are under pressure because their BEV business is not very large, and their profit potential is not very strong. Their ICE business is also shrinking,” he said, referring to battery electric vehicles and internal combustion engine vehicle operations.
According to official data, Volkswagen’s delivery volume in the Chinese market in 2022 was 3.1845 million vehicles, a year-on-year decrease of 3.6%, and it has been declining for several years in a row. In 2019, Volkswagen’s annual delivery volume in China was still 4.23 million vehicles, but it has now decreased by more than 1 million vehicles. Currently, except for Lamborghini, the sales of Volkswagen, Audi, Skoda, Porsche, and Bentley brands are all experiencing negative growth. Among them, Skoda’s sales in 2022 even decreased by 37.36%. At the same time, General Motors’ sales in China in 2022 were about 2.3 million vehicles, with a year-on-year decline of 21%, a decline far greater than that of Volkswagen.
It is worth mentioning that not long ago, Phoneauto noticed that Volkswagen and the domestic new energy vehicle manufacturer Xiaopeng Motors reached a cooperation agreement to jointly develop two Volkswagen brand electric vehicle models for the mid-size car market in China, which are expected to be launched in 2026.
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