Audi Names New Chief in China as Sales Slide

Volkswagen AG's Audi unit has named Joachim Wedler to take over as head of its operations in China its largest market at the end of the year as sales growth in the region slows.

He will succeed Dietmar Voggenreiter, whose has held the post since 2009. Voggenreiter will return to an unspecified post with Audi operations in Germany.

Audi tells Reuters the staff change is not related to the brand's declining sales. Demand for the company's cars and crossovers surged 18% to 578,900 units in the country last year. But year-on-year deliveries fell 2% in May and 6% in June.

The company, which had hoped to reach sales of 600,000 units in China this year, is expected next week to announce a more modest target. Bloomberg News says Audi is offering dealers in China 1.2 billion yuan (€178 million) in financial aid to offset slumping sales.