Volkswagen expects strong sales growth in China

Volkswagen expects to ‘grow substantially’ in China this year. The car manufacturer also expects to increase its market share in the country. So says Stephan Wöllenstein, Volkswagen’s CEO in China.

China is the largest car market in the world and it picked up considerably at the end of last year thanks to a successful fight against the corona virus. The Volkswagen Group expects sales of the number of cars in the country to grow as fast as the economy this year. The growth is now estimated at 8 percent. Currently, one in five cars sold in the country is one of the Volkswagen Group. Already in the third quarter of 2020, the group’s sales in China were at the level of before the corona crisis.

Volkswagen announced last September that it was investing heavily in its range of electric cars in China. The extra investment of € 15 billion should benefit, among other things, more models for the local market. By 2025, fifteen Volkswagen Group models are to be produced locally in China. 35 percent of the supply must then consist of electric cars. In addition, new partnerships are entered into in the fields of battery technology and charging infrastructure.

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