Volkswagen has found itself in a precarious position as Chinese electric vehicle maker BYD overtakes it in car sales, reflecting changing consumer preferences and market dynamics.
Michael Dunne, a consultant in the China auto industry, notes that Chinese consumers view Volkswagen as a relic of the past, favoring newer, more innovative local brands.
Volkswagen's decision to avoid aggressive price cuts has cost them market share, illustrating their struggle to adapt to an evolving and competitive auto market in China.
State-backed financing for local manufacturers has enabled them to sell vehicles well below production costs, further challenging Volkswagen's position as the leader in China.
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