Volkswagen (VW) is lagging behind Tesla in EV sales in the world’s largest market. Two months after launching the ID.4 electric SUV, the VW brand struggles to attract a meaningful amount of market share for EVs in the country.
In May the German automaker sold just 1,213 of their flagship ID.4 SUV model. The disappointing sales figure was also a drop from the previous month, which saw about 1,400 units sold in April according to Reuters.
The sluggish sales are well below the German automaker annual sales target in China of 100,000 units.
However, the struggling Chinese sales are more than a simple concern of sales numbers; it also is about reputation. VW stocks have climbed over the last year, and the company is known to want to beat Tesla. But in China, the market is competitive, and VW has their work cut out for them if they want to catch up.
In reaction to this news, VW stock dropped 1.5%.