Volkswagen hopes exports will make up for some of China downturn, CFO says
Volkswagen hopes exports from China will help offset falling sales there, where its Anhui joint venture is operating at a loss. The group is targeting an 11% share of the Chinese market, or 2.3 million vehicles a year, and sees initial export opportunities to the Global South of about 300,000 vehicles.
1. China sales and exports
Volkswagen hopes to offset falling volumes in China by focusing more on exports from the country, finance chief Arno Antlitz said. The group's joint venture in Anhui is currently operating at a loss.
2. Revised market target
Volkswagen is aiming for an 11% share of China's car market, equivalent to 2.3 million vehicles annually under revised forecasts, Antlitz said. Previous plans called for up to 2.8 million vehicles. The company sees initial export opportunities from China to the Global South of roughly 300,000 vehicles.
