Tuesday , January 19 2021

World's Largest Automotive Market Can Be Scaled Down – Motherland Online

On Thursday, ahead of a car show in Guangzhou, Guangzhou, China, CEO VW China CEO Jochem Heizmann said, "The market is in trouble because June is every year since June. .

Therefore, the whole market is not expected to grow this year. If possible, decrease in order of "1 to 2%". Next year, the growth can be "flat", Heizmann said.

Decrease for months

In the Chinese market, the automobile market has been declining for several months. Over the past 10 months, sales of all automobile manufacturers have fallen by 0.1% to 22.77 million due to concerns about weak economic conditions and US trade disputes.

In October alone, according to the China Automobile Association CAAM, minus was 11.7 percent, the biggest decline in seven years.

Volkswagen will not be able to achieve this year's goal in this environment. Nonetheless, Heizmann expected better development than the overall market. "We expect to grow and grow next year," he said.

During the first nine months of 2018, the Volkswagen Group sold 3.1 million units to its Chinese and Hong Kong customers, up 5 percent from the same period last year. Observers predict that this plus will still be around 2% by the end of the year.

The VW passenger car, which is a core brand with a decline of 10.5% in September and 9.8% in October, is currently experiencing difficulties.

The government should help.

"The government should decide as soon as possible," Hayes said in a report that the Chinese government is considering tax cuts to provide buyers with new life insurance. A clear "yes" or "no" is required because the buyer will withhold the purchase to lower the tax.

In the medium term, Heizmann still has a great opportunity in the world's largest car market. The potential is greater than in other related automotive markets in the world. (SDA / AWP / DPA)

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