The threat of tariffs and subsidy shake-up comes as German carmaker faces weak American sales of its all-electric SUV
Volkswagen’s high-stakes bid to woo US consumers with its electric vehicles in a slowing market was a risky endeavour from the start. But with Donald Trump’s return to the White House, the American dream of Europe’s largest carmaker is looking more fraught than ever. With its market share in China almost halving to 12 per cent in the past five years, and demand in its core European market faltering, cracking the US market has never been more critical for the world’s second-largest auto group.
Competition in the notoriously saturated market is only expected to grow as international auto groups try to increase US sales to counter slowing demand elsewhere. Stifel analyst Daniel Schwarz pointed out that VW’s promise to grow US market share “has been there for many years”. Although VW declined to comment on “any regulatory plans of the new US administration”, the incoming administration is widely expected to scrap generous government subsidies for consumers who buy electric vehicles.
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