Volkswagen said second-quarter deliveries in China fell 36.6% to 424,300 vehicles, outweighing gains in North America and Western Europe as German carmakers faced intensifying pressure from local brands.
Volkswagen reported an 8.6% year-on-year decline in global deliveries in the second quarter as China demand weakened sharply. The automaker said deliveries in China fell 36.6% to 424,300 vehicles, more than offsetting growth in other regions, including a 7.7% increase in North America and a 1.8% rise in Western Europe. The drop came as German carmakers including Mercedes-Benz, BMW and Porsche also posted China sales declines of roughly 30% to 41% in April-June, reflecting weaker consumer demand, China’s property-sector downturn and intense competition and price pressure from domestic brands such as BYD.