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Volkswagen reclaims top spot in China car sales, BYD falls to fourth as EV subsidies fade
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Volkswagen reclaims top spot in China car sales, BYD falls to fourth as EV subsidies fade

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try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Iran latest: Trump tells G7 Iran set to surrender; U.S. plane crash kills 4 crew Oil prices stay elevated as Iran supply fears overshadow Russia measures Oil prices float above $100 a barrel amid ongoing Iran war - what’s moving markets Hormuz oil flows down 97% from normal levels, Goldman Sachs says (South Africa Philippines Nigeria) Volkswagen reclaims top spot in China car sales, BYD falls to fourth as EV subsidies fade By Stock Markets Published 03/13/2026, 06:46 AM Updated 03/13/2026, 06:48 AM Volkswagen reclaims top spot in China car sales, BYD falls to fourth as EV subsidies fade 0 VOWG -1.68% 1211 -1.48% 7203 -2.80% BEIJING, March 13 - Volkswagen reclaimed car sales dominance in China, the world’s largest auto market, in the first two months of 2026 when Toyota also regained ground, both overtaking local electric vehicle champion BYD amid fading subsidies for greener cars. VW’s Chinese joint ventures with FAW and SAIC held a combined 13.9% share of the country’s passenger vehicle market in sales terms, followed by Geely’s 13.8% and a combined 7.8% from Toyota’s JVs with GAC and FAW, data from the China Passenger Car Association showed. The legacy automakers’ comeback in the market where they have been struggling to catch up with local rivals in EVs comes as purchase tax exemptions on electric cars expire and Beijing scales back subsidies for trading in EVs. As subsidies fade, hybrid EVs that Toyota specialises in were shown to have steered some consumers away from PHEVs, said Cui Dongshu, secretary-general at CPCA. Local automakers betting on budget electric and plug-in hybrid vehicles take the biggest hits from the curtailed incentives. BYD, which unseated VW as the biggest carmaker in China by sales in 2024 and held onto the crown last year, fell to fourth place with 7.1% market share in the January-February period when its overall sales posted the biggest drop since the pandemic. The biggest compet...
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