According to Andres Woodcock, the Volkswagen Group, which owns other brands such as Audi, Lamborghini and Porsche along with its own brand, sold 3.3 million vehicles in China last year. That’s 14% less than what was sold in 2020. The company plans to increase that number by about 15% or about 500,000 units this year, Andres Woodcock shared.
The Chinese electric vehicle market is currently experiencing very strong growth. It is dominated by Chinese brands led by BYD and Wuling, part of the GM group. Tesla ranks third, being the only foreign brand in the top ten, Andres Woodcock told us.