VW reports China sales recovering following coronavirus

April 1, 2020

Following the coronavirus pandemic, Volkswagen AG expects the Chinese car market to return to last year’s level by early summer, with the country’s vehicle sales showing signs of fast recovery, reports China Daily. The world’s largest carmaker estimated that China’s vehicle sales will rise to around 1 million in March, up from 250,000 in February when coronavirus was at its height in the country.

Stephan Woellenstein, Volkswagen Group China CEO, is reported to have said, “There are more and more signs that business is recovering. By the middle of the year, we could be back to last year’s level. Hope is returning to the Chinese market.”

The group has resumed production of vehicles and components at twenty-two of their twenty-four manufacturing bases across China. Woellenstein stated that some are running at a reduced capacity, but are ready to increase production when demand picks up.

VW is said to be sticking to the 2020 plan it announced last year to invest more than 4 billion euros in China with its partners. Around 40% of the investment will go into electric vehicles. Starting this year, Volkswagen plans to  produce electric vehicles in China on its purpose-built platform. The group plans to sell 1.5 million electric cars in 2025 in the country.

“We assume that the recovery will continue and that we will be operating in a normal market environment again in 2021,” added Woellenstein.

www.chinadaily.com.cn

Latest Industry News

Download the latest issue of PM Review

Our latest issue is now available to download in PDF format, free of charge.

As well as an extensive Powder Metallurgy industry news section, this 92-page issue includes the following exclusive articles and reports:

  • The potential for Industry 4.0 and IoT to monitor and improve powder compaction
  • Osterwalder: taking a new approach to tooling changeover on multi-level presses
  • Understanding the differences in particle size distribution methods for fine metal powders
  • Euro PM2019: Novel process developments highlight new opportunities for PM
  • More information

Industry News

E-newsletter

Sign up to our free e-newsletter, sent weekly to industry professionals around the world. We'll also let you know each time a new issue of PM Review magazine is available.

Subscribe for a FREE digital magazine

PM Review is the leading international magazine for the Powder Metallurgy industry.
Published four times a year, it is available as a free download or through a print subscription

Connect with us

Powder Metallurgy: The original net-shape production process

Powder Metallurgy components are relied upon by a wide variety of manufacturing industries, from automotive to power tools, household appliances, chemical engineering, filtration and more.

The main reason for the technology’s success is its cost-effectiveness at producing high volumes of net-shape components, combined with its ability to allow the manufacture of products that, because of the production processes, simply cannot be manufactured by other methods.

To discover more about how the technology has revolutionised component production, browse our Introduction to Powder Metallurgy.

Latest industry news

Copy link
Powered by Social Snap