Sales slump of 14 percent in China

Wöllenstein had come under pressure because the Group’s electric offensive in China did not start as hoped. Diess has therefore made the topic a top priority, it is said. Because he is also under pressure: If he does not succeed in getting the China business going properly, that might be more dangerous for him than the trouble with the works council. The Chinese market is extremely important to the major shareholders of the Porsche Piëch clan. With good reason: The People’s Republic is by far the most important sales market for VW. China accounted for 41 percent of global sales in the first half of 2021. How much the country contributes to the profit is top secret. But it is estimated to be at least three billion euros a year, around a third of net profit.