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In the latest blow to Tesla, China has ordered all its cars to be repaired safely
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tanmayMay 8, 2021
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VW, Ford unveil new SUVs at the Shanghai Auto Show
AP, SHANGHAI
Volkswagen AG, Ford Motor Co and Chinese brands yesterday unveiled new sports utility vehicles (SUVs) for China’s growing market at the Shanghai Auto Show, the industry’s biggest marketing event in a year overshadowed by the COVID-19 pandemic.
Automakers are looking to China, the biggest auto market by sales volume and the first major economy to rebound from the pandemic, to propel a sales revival and reverse multibillion-dollar losses.
Auto Shanghai takes place under anti-virus controls that included holding some news conferences by video link. Few executives from abroad are attending. Reporters were required to undergo virus tests.
SAIC makes Tan Chong s Viet unit distributor
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Volkswagen sees China as anchor of stability as annual revenues fall 11.8% Xinhua | Updated: 2021-03-17 11:13 People work at the assembly workshop of FAW-Volkswagen Automobile Co Ltd in Chengdu, Southwest China s Sichuan province, Feb 19, 2020. [Photo/Xinhua]
BERLIN - Sales revenues of Germany s largest carmaker Volkswagen declined by 11.8 percent year-on-year to 222.9 billion euros ($265.4 billion) in fiscal 2020 as a result of the COVID-19 pandemic as well as negative exchange rate effects, the company said on Tuesday.
Volkswagen s operating result even dropped by 43 percent compared to 2019 and fell to around 9.7 billion euros, according to the company. We have had to perform the greatest balancing act in the company s history in recent months, addressing the COVID-19 pandemic while pushing our transformation into a technology company, said Herbert Diess, chief executive officer (CEO) of Volkswagen.
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