Volkswagen Group expect vehicle sales in China to quadruple in March, their China boss said, pointing to a recovery following the coronavirus pandemic. “We are cautiously optimistic that the worst effects of the crisis will be behind us in two to three months,” said Stephan Woellenstein, head of VW Group’s China business.
Demand is still limited, the automaker said, but they are prepared to ramp up capacity at their plants in the country, 22 of which have resumed production. Two vehicle plants in Changsha and Urumqi are still closed. Woellenstein said he expects total market sales of up to 1 million in March, up from 250,000 in February.
In 2020, Volkswagen expect a decline of 3% to 15% in the Chinese market but confirmed plans to invest more than €4bn this year there, with about 40% of that sum earmarked for electric driving. “We assume that the recovery will continue and that we will be operating in a normal market environment again in 2021,” Woellenstein said.