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    VW sells 10,000 fewer electric cars in China as chip crisis hits deliveries

    Volkswagen sold 10,000 less electric vehicles in China than last year’s forecast due to a shortage of semiconductors to deliver to customers in the largest markets in fierce competition with domestic brands.

    Marque in Germany sold 70,000 of its five flagship ID models, most of which were launched in the past year and were targeted for sales of 80,000 to 100,000 in 2021.

    Overall, the VW Group, including Audi and Porsche, delivered 3.3 million vehicles in China last year, 14% less than in 2020.

    “2021 was one of the most difficult years in our history in China,” said Stephan Wöllenstein, a longtime boss of the group in China, who will resign later this year.

    “Our purchase order is fully satisfied, but we couldn’t match production and demand because of a shortage of semiconductors. Due to the case of Covid-19, we shut down the factory (on our side and on the supplier side). Both) made the situation even worse. “

    FAW and SAIC’s two Volkswagen joint ventures in China have been the driving force behind the Group’s growth for decades, and the country remains VW’s single largest and most profitable market. I am.

    However, China’s revenues have declined significantly over the past few years as automakers’ mass market products face competition from young domestic brands such as BYD and Great Wall Motors.

    VW’s five new ID models didn’t sell as expected, company executives told the Financial Times that Chinese buyers are focusing on fresher electric brands that have nothing to do with traditional car makers. ..

    As a result, VW has set up a showroom with an emphasis on the ID brand and is expanding online sales with the aim of selling at least 140,000 ID models this year.

    However, Wellenstein told journalists at a briefing on Tuesday that the target number was “not currently secured by the semiconductor supply we are currently looking at,” but he is confident of hitting it.

    “Looking ahead to this year, chip supply remains volatile in the first half of the year, but production is stable and a gradual recovery is expected throughout the year,” he added.

    Although VW’s electricity sales were sluggish, luxury brands Porsche, Bentley and Lamborghini set new records in 2021 with annual growth rates of 7.5%, 40% and 55%, respectively.

    Porsche’s electric Taycan model surpassed the popular 911 model, with more than 7,000 delivered, compared to 4,000 for the 911.

    VW sells 10,000 fewer electric cars in China as chip crisis hits deliveries Source link VW sells 10,000 fewer electric cars in China as chip crisis hits deliveries

    The post VW sells 10,000 fewer electric cars in China as chip crisis hits deliveries appeared first on California News Times.

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