German Automakers Face Continued China Earnings Risk -- Market Talk

Dow Jones

2025/12/03

0928 GMT - German carmakers' China earnings remain under pressure, Citi analysts write. With significant China overcapacity, dynamic new model and technology cycles, and low supply chain costs, Chinese manufacturers have undercut EU counterparts and led to sharp falls in European brands' market share and profitability in China. If their China EBIT falls to zero, BMW and Mercedes-Benz have the biggest downside risk to group EBIT in 2026, followed by Volkswagen. Volkswagen can now develop, test, and locally manufacture cars in China. It will soon launch new VW branded cars there which were developed in-country at 40%-50% lower cost than existing models. It is looking at supplying these VWs in Southeast Asia and Middle East markets. "Can VW become a China automotive cost winner, rather than loser?," Citi asks. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

December 03, 2025 04:29 ET (09:29 GMT)

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With significant China overcapacity, dynamic new model and technology cycles, and low supply chain costs, Chinese manufacturers have undercut EU counterparts and led to sharp falls in European brands' market share and profitability in China. If their China EBIT falls to zero, BMW and Mercedes-Benz have the biggest downside risk to group EBIT in 2026, followed by Volkswagen. Volkswagen can now develop, test, and locally manufacture cars in China. It will soon launch new VW branded cars there which were developed in-country at 40%-50% lower cost than existing models. It is looking at supplying these VWs in Southeast Asia and Middle East markets. \"Can VW become a China automotive cost winner, rather than loser?,\" Citi asks. 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With significant China overcapacity, dynamic new model and technology cycles, and low supply chain costs, Chinese manufacturers have undercut EU counterparts and led to sharp falls in European brands' market share and profitability in China. If their China EBIT falls to zero, BMW and Mercedes-Benz have the biggest downside risk to group EBIT in 2026, followed by Volkswagen. Volkswagen can now develop, test, and locally manufacture cars in China. It will soon launch new VW branded cars there which were developed in-country at 40%-50% lower cost than existing models. It is looking at supplying these VWs in Southeast Asia and Middle East markets. \"Can VW become a China automotive cost winner, rather than loser?,\" Citi asks. (dominic.chopping@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 03, 2025 04:29 ET (09:29 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MBGYY","symbol_name":"Mercedes Benz Group AG","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2588407014","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2588407014","pubTimestamp":1764754140,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0928 GMT - German carmakers' China earnings remain under pressure, Citi analysts write. With significant China overcapacity, dynamic new model and technology cycles, and low supply chain costs, Chinese manufacturers have undercut EU counterparts and led to sharp falls in European brands' market share and profitability in China. If their China EBIT falls to zero, BMW and Mercedes-Benz have the biggest downside risk to group EBIT in 2026, followed by Volkswagen. Volkswagen can now develop, test, and locally manufacture cars in China. It will soon launch new VW branded cars there which were developed in-country at 40%-50% lower cost than existing models. It is looking at supplying these VWs in Southeast Asia and Middle East markets. \"Can VW become a China automotive cost winner, rather than loser?","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"MBGYY":"Mercedes Benz Group AG","VWAPY":"Volkswagen AG","BK4099":"汽车制造商"},"translate_title":"德国汽车制造商面临持续的中国盈利风险——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MBGYY":0.9,"VWAPY":0.9},"content_text":"0928 GMT - German carmakers' China earnings remain under pressure, Citi analysts write. With significant China overcapacity, dynamic new model and technology cycles, and low supply chain costs, Chinese manufacturers have undercut EU counterparts and led to sharp falls in European brands' market share and profitability in China. If their China EBIT falls to zero, BMW and Mercedes-Benz have the biggest downside risk to group EBIT in 2026, followed by Volkswagen. Volkswagen can now develop, test, and locally manufacture cars in China. It will soon launch new VW branded cars there which were developed in-country at 40%-50% lower cost than existing models. It is looking at supplying these VWs in Southeast Asia and Middle East markets. \"Can VW become a China automotive cost winner, rather than loser?,\" Citi asks. (dominic.chopping@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 03, 2025 04:29 ET (09:29 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}