Interview: "The overall market in China is in free fall"
China's days as a growth market are over for VW, says China chief Ralf Brandstätter. Now the group has to sell its cars elsewhere. Otherwise, the multi-billion-euro austerity program will become even more expensive.
Volkswagen is bracing for a long-term slump in its China business, with sales potentially dropping to 2.2 million vehicles annually by 2030. The company's China chief, Ralf Brandstätter, cited a decline in overall demand in China, with sales down 30% in the first nine months of the year to under 1.4 million vehicles. This could lead to VW falling below the 2 million vehicle sales mark in China for the first time since 2010.
The decline may impact VW's overall restructuring plans, which rely on selling around 9 million vehicles worldwide annually.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
