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Volkswagen CEO warns of pressure on European auto industry from Chinese competitors

Just Auto ·

STLA
STLA Stellantis N.V
$4.27 -4.04%
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  1. 1Volkswagen CEO Oliver Blume warned that European mass-market automakers are facing immense pressure due to worsening market conditions from Chinese competitors.
  2. 2Stellantis, Renault, and Volkswagen account for more than 60% of European automobile production market share.
  3. 3Mercedes-Benz recorded 407,200 vehicle deliveries in the third quarter, an 8% decrease.

So what's the key point?

European car companies are facing difficult situations as Chinese automakers surge forward. This means major companies, including Volkswagen, are under significant pressure in the market.

Source Just Auto · View original ↗

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