The German auto giant isn't alone in its struggles, according to CNBC's analysis of 10 global car brands. While Volkswagen remains by far a giant in China's car market with around 3 million vehicles sold a year, the German brand hasn't gained much traction in the electric car space. In July, the company opted to invest about $700 million into Chinese electric car start-up Xpeng to jointly develop two cars for China. Toyota , which has struggled in the market transition to electric cars, is set for its worst year of overall China sales since 2020 with about 1.8 million vehicle sales, CNBC found. Tough competitionAlthough China's new energy market is growing quickly, competition is fierce, even for domestic brands.

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Persons: Evelyn Cheng, Alvin Liu, Liu, Bernstein, BYD, Tesla, Nio Organizations: CNBC, Volkswagen, Nissan, Hyundai, China Passenger Car Association, Toyota, Canalys, Honda, BYD, Tesla's, Plaid — Locations: Europe, China, North America, Evelyn Cheng BEIJING, Shenzhen, Shanghai, Beijing, German