Skoda to exit Chinese market by mid-2026 due to plummeting sales.

Skoda, a Volkswagen Group brand, plans to exit the Chinese market by mid-2026. After sales plummeted by over 95% due to intense competition from local EV makers, the company says it no longer sees value in staying. The brand will continue selling current models until mid-2026 and will maintain after-sales services for existing customers.