ShanghaiThe car maker Volkswagen expects in its largest single market China after the slump in sales again with a recovery. "We see a revival in April, but it is still no gold rush mood," said brand sales chief Jürgen Stackmann on Monday in Shanghai before the start of the auto show in the port metropolis. China lowered the VAT rate by three percentage points at the beginning of April.
Last year, for the first time in over twenty years, the Chinese car market declined, mainly because the US tariff dispute unsettled car buyers. According to current estimates, the car maker in the country with a paragraph about the same level of the previous year, said Stackmann. Especially in the second half of the year, the market should recover. "For the global market, we are optimistic that maybe we can grow a tick."
(t) Volkswagen (t) VW (t) China (t) Germany (t) Car manufacturers (t) Wolfsburg (t) Shanghai (t) Automesse (t) USA (t) Customs disputes (t) Foreign investment by country (t) Foreign Trade (t) Foreign Investment (t) Foreign Trade with Land (t) Economic Analysis (t) Product Policy (t) Jürgen Stackmann (t) Automotive Industry (t) Industry Analysis