The VolkswagenGroup holds despite the tightened competition in the important market China on its result goals. In 2027, the proportionate operational result of the Chinese joint venture should increase again to more than 2.0 billion euros, said VW China boss Ralf Brandstätter (56) on Wednesday during an investor event on the occasion of the car facility in Shanghai.
Brandstätter had already proclaimed the goal last year and set it up to a dry spell until then. Since then, the situation has tightened again. Last year VW earned a proportionate 1.74 billion euros with its Chinese joint ventures, this year the Wolfsburgers have only planned a proportionate result due to further investments and the hard price war. For comparison: In 2018 and 2019, VW in China operatively earned 4.6 and 4.4 billion euros.
In addition, VW did not get going with its electric cars for a long time, and the Chinese market in the area is growing rapidly. In 2024, the total deliveries of VW in China fell 9.5 percent to 2.9 million vehicles compared to the previous year. In the meantime, VW in China is developing e-models together with the electric car manufacturer Xpeng to get back on track faster.