Volkswagen positive of China sales, plans more investments with JV partners | Reuters

BEIJING Volkswagen AG is optimistic that its positive sales trend from the two previous quarters will continue in China, the world's biggest auto market, its China chief Jochem Heizmann said on Sunday.

Reuters April 24, 2016 10:15:11 IST
Volkswagen positive of China sales, plans more investments with JV partners
| Reuters

Volkswagen positive of China sales plans more investments with JV partners
 Reuters

BEIJING Volkswagen AG is optimistic that its positive sales trend from the two previous quarters will continue in China, the world's biggest auto market, its China chief Jochem Heizmann said on Sunday.

Volkswagen also plans to invest 4 billion euros ($4.49 billion) with its joint venture partners in China this year, and is prepared for any recalls in China on any diesel-related issues, Heizmann told reporters ahead of the Beijing auto show, which begins on Monday.

Volkswagen has been struggling with the so-called dieselgate scandal since it was discovered last year that the German automaker modified its cars to cheat on emissions tests.

The company has been in talks with regulators globally on how to make amends, although in China the issue only affected roughly 2,000 cars.

Fallout from the scandal contributed to Volkswagen narrowly losing its crown as the top foreign automaker in China to General Motors Co in 2015, according to data from the China Automobile Makers Association.

Volkswagen's China sales fell 3.4 percent last year to 3.5 million units.

($1 = 0.8909 euros)

(Reporting by Jake Spring; Editing by Christopher Cushing)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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