Volkswagen: Stifel still a buyer on Chinese ambitions
(CercleFinance.com) - Stifel maintains its "buy" recommendation on Volkswagen shares, with an unchanged target price of 308 euros.
The analyst says that the slow start of electric vehicle sales in China had been "a major concern" in 2021. However, the car maker has managed to reassure that the problem was not the product but rather the way it was presented. Not to mention the global shortage of semiconductors...
Stifel reports that Volkswagen plans to double sales of its ID range in China by 2022. Without supply chain concerns, sales are expected to be between 160,000 and 200,000 units, it says.
To achieve this, VW can rely on a solid network of dealers and new points of sale for ID models. In this context, analysts believe that VW has built a solid foundation for the commercial success of its electric models in China, it concludes.
However, the share is down over 5% this afternoon.
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