Major German carmakers saw sharp quarterly sales declines in China as domestic demand weakened and competition heated up in the world’s biggest auto market.
At Volkswagen, Mercedes-Benz, BMW and Porsche, China sales for the April-June quarter plummeted between 30% and 41% compared with the same period a year ago, according to company data released over the past week.
For the first half of this year, they all reported a more than 20% year-on-year drop in China. The falling China sales have squeezed their overall profits and in some cases offset gains from other regions.
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