VW sees mild growth for China auto market over next three to four years

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NSTcarsbikesandtrucks: Volkswagen AG the top foreign automaker in China, said it expects the world’s biggest passenger car market to stabilise next year with low growth levels likely for three to four years.

Hit by a slowing economy, the US-China trade war and chaotic implementation of new emission rules, China’s vehicle sales are expected to slide some 8 per cent this year after a 2.8 per cent fall last year to 28.1 million - the first decline since the 1990s.

Volkswagen has been one of the strongest performing automakers in China this year, having launched eight locally produced SUVs since the last quarter of 2018. The automaker has made China a key battleground as it pushes ahead with electrification, pouring in billions of dollars in product development.

 

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