Oliver Bloom believes that a double-digit share in the Chinese market is already a lot
Volkswagen Group CEO Oliver Blum spoke about the company’s position in the key market — Chinese The top manager believes that Volkswagen «cannot currently maintain its leading position» in the electric vehicle sector in China, but added that new models that Volkswagen will release in the next few years will improve the current situation.
Bloom said that the public «should not have "utopian» expectations"». «EIf we can achieve double-digit market share in the fast-growing Chinese market in the long term, that will already be a very impressive goal», — said top manager.
According to statistics, Volkswagen's market share in China fell from 18% in 2018 to 14% in 2023. It is difficult for the German company to compete with local brands, which every now and then start price wars. Volkswagen is now trying to expand its market share in China at the expense of buyers of mid-range and budget electric vehicles, but Volkswagen electric cars are currently more expensive than many Chinese competitors.
German Chancellor Olaf Scholz will visit China at the end of April, and he will be accompanied on his trip by executives from BMW, Mercedes-Benz and other German companies.