FRANKFURT (dpa-AFX) - A critical analyst comment on competition from China left its mark on Volkswagen (VW) shares ahead of schedule on Friday. In trading on the Tradegate platform, the carmaker's share price fell by two percent compared to the Xetra closing price the previous day. Patrick Hummel from the major Swiss bank UBS had recommended selling the securities at the end of the week. The same applies to competitor Renault.

Volkswagen is most strongly pressed at the global level by the increasing Chinese competition, wrote the analyst Patrick Hummel in his study. The headwinds that the Wolfsburg-based company is also facing in Europe from Chinese electric cars are being underestimated in the market. While the stock currently looks cheap, this is likely to turn negative in the next one to two years.

Meanwhile, electric carmaker Tesla is also stirring up trouble in the auto sector again with further announced price cuts in China./tih/jha/