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VW: China’s Car Market May Remain Flat Well into 2019
Demand for new cars in China, which has stalled this year, may not revive until next summer because of the China-U.S trade war, says Volkswagen AG’s head of China operations.
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Demand for new cars in China, which has stalled this year, may not revive until next summer because of the China-U.S trade war, says Volkswagen AG’s head of China operations.
VW sold 4.2 million vehicles in China last year. But Jochem Heizmann tells the Financial Times that group sales have been “challenging” since June. “Every month is getting worse,” he adds. The company’s sales in China slid 10% in September.
Heizmann predicts a sales recovery in the second half of 2019, assuming the tariff war between China and the U.S. ends by then.
Media reports earlier this month suggested China’s central government might stimulate the market by reviving a break on new-car sales taxes for models equipped with small engines. But FT notes cites comments by Chinese officials in local media saying they are not likely to offer tax rebates this year.
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