The Wall Street Journal, citing data from Jato Dynamics, reported that German automaker Volkswagen (XETRA:VOW)(VWAGY) is losing market share in China due to heightened competition from domestic players, including BYD Company (BYDDY).  Volkswagen’s recent delivery numbers in China (including Hong Kong) show an improvement. In October, Volkswagen delivered 263,400 vehicles in China, up 11.3% year-over-year. However, for the 10 months of 2022 (January to October), Volkswagen’s deliveries declined by 5.9%.  Excluding the Asia-Pacific region, Volkswagen’s deliveries declined in all other markets for the 10 months that ended in October 2022.  The Wall Street Journal report highlighted that Warren Buffet-backed automaker BYD has seen its market share double.
https://www.tipranks.com/news/competition-weighs-on-volkswagen-vwagy-in-china?utm_source=advfn.com&utm_medium=referral