23 October

Volkswagen is in serious, serious trouble. (Note VW also owns: Å KODA, SEAT, CUPRA, Audi, Lamborghini, Bentley, Porsche and Ducati.) The 3rd biggest car maker in the world. This is a story you'll see repeated with other major manufacturers too. VW made about 50% of their revenue selling cars to China. But China's EV industry is so colossal now, that pretty much everybody in China drives Chinese-made EVs. So VW's sales to there have been cut in half. The company is on its knees. Meanwhile global EV sales have jumped 31% in the past year. VW's EV sales have dropped 10%. It can't match Chinese EVs on price or variety. It's all bad news. People are in total denial about the realities of the car/bus/truck industry now.