The likes of BMW, Volkswagen, and General Motors all appear to be suffering from ailing demand and trade war threats in the world’s largest auto market, reports Automotive News China.
Volkswagen Group posted a 5.7% drop in deliveries in September – the fourth straight month of decline – with the VW brand performing particularly poorly. Sales of VW vehicles were down 11% from a year previous.
Sales of General Motors’ two China joint ventures fell 6.1% year-on-year, according to its Chinese partner SAIC Motor Corp.
German giant BMW, meanwhile, has warned investors that next year’s earnings could contract by up to half a billion euros ($579 million) due to tariff pressures.
“If the tariffs remain in 2019, it could have a full-year impact of half a billion euros,” said CFO Nicolas Peter.