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Chinese carmakers exported 3.83 million passenger cars in 2023, ... Volkswagen reported a 1.6% increase in its China sales, with a 23% rise in EV sales specifically. ...
Volkswagen Group China (VGC; Chinese: 大众汽车集团（中国）) is the Chinese subsidiary of the German automotive concern Volkswagen Group in the People's Republic of China. Volkswagen Group China used to sell around 3 million cars (as of 2017) in the Chinese market [4] and until recently was largest car brand in China by sales [5].
A 4% rise in vehicle sales in North America and 16% growth ... or about 240,000 fewer than 2023. Volkswagen is seeking to cut billions in costs after issuing two profit warnings in three months ...
In July 2023, Volkswagen Group announced its investment of $700 million in XPeng, the EV startup venture from China, for purchasing 4.99% stake of the company. The VW will collaborate with XPeng to develop two VW brand electric models for the mid-size segment in the Chinese market in 2026.
In April 2023, XPeng unveiled the XPeng G6 at the 2023 Shanghai Auto Show. [26] On 21 June 2023, XPeng announced a partnership with ACCESS Europe in the field of in-car infotainment systems. [27] On 26 July 2023, the Volkswagen Group announced its investment of $700 million in XPeng for purchasing 4.99% stake of the company. The VW Group will ...
Meanwhile, Porsche, owned by Volkswagen, said it would shrink its Chinese dealer network amid plunging profits and a 29% slide in sales in China in the nine months to September 30.
The Volkswagen Group sells passenger cars under the Audi, Bentley, Cupra, Jetta, Lamborghini, Porsche, SEAT, Škoda and Volkswagen brands, motorcycles under the Ducati name, light commercial vehicles under the Volkswagen Commercial Vehicles brand, and heavy commercial vehicles via the marques of the listed subsidiary Traton (International ...
SAIC, based in Shanghai, says it is the largest automaker in China, turning out 5 million vehicles in 2023. It also has partnerships with General Motors and other automakers.