The Wall Street Journal, citing data from Jato Dynamics, reported that German automaker Volkswagen (XETRA:VOW)(VWAGY) is losing market share in China due to heightened competition from domestic players, including BYD Company (BYDDY).
Volkswagen’s recent delivery numbers in China (including Hong Kong) show an improvement. In October, Volkswagen delivered 263,400 vehicles in China, up 11.3% year-over-year. However, for the 10 months of 2022 (January to October), Volkswagen’s deliveries declined by 5.9%.
Excluding the Asia-Pacific region, Volkswagen’s deliveries declined in all other markets for the 10 months that ended in October 2022.
Besides for competition, supply shortages and higher energy costs negatively impacted Volkswagen’s financials.
Is Volkswagen Stock a Buy, Sell, or Hold?
Volkswagen stock has a Moderate Buy consensus rating on TipRanks based on four Buy, one Hold, and one Sell recommendations. Furthermore, its price target of €223.80, implies 22.3%.
Meanwhile, Volkswagen stock has a Neutral Smart Score of six out of 10 on TipRanks.