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"Even though we have managed robust sales in China so far, we found that Chinese customers are incredibly inquisitive and hungry for information. They want to embrace new technologies and are fairly open to disruptive products," he said. "Therefore, we must act fast to seize all the market opportunities to retain robust growth."

"Driving all the day is so tiring. If cars can drive themselves in line with rules, then traffic accidents may be reduced and efficiency can be improved," he said.

"Demand for financing and after-sales services has emerged in the used car market. It is difficult for used car e-commerce platforms to achieve profitability in a short period of time," said Zhao Xiang, an analyst at Beijing-based internet consultancy Analysys.

"Even in the coronavirus crisis, the Volkswagen brand is consistently moving ahead with the changeover of its plants to e-mobility in line with its plans," the company noted.

"Factors including weak demand, lower prices of industrial products and rising costs led to the fall in profits," said NBS senior statistician Zhu Hong.