VW sees China market accelerating

Bullish outlook: A VW logo is seen on a vehicle at the company’s headquarters in Wolfsburg, Germany. VW expects car sales in China to grow to between 28 and 30 million vehicles by the end of the decade – roughly three times that of the EU currently. — AFP

BERLIN: Volkswagen AG (VW) expects a recovery in China’s passenger car market growth this year once supply-chain stresses and a wave of Covid infections following the country’s pandemic reopening ease.

The world’s biggest car market is set to grow between 4% and 5% this year to 23 million vehicles, said Ralf Brandstaetter, the carmaker’s head of China operations, accelerating from a rise of 1.6% last year.