Restoring global car market leads China

Restoring global car market leads China

May 6, 2020 0 By autotimesnews

Volkswagen Group analysts said that demand in China is beginning to recover thanks to customers who switch from public transport to private, but warn that sales will not recover so quickly in other global markets.

Car sales in China were higher than last year’s levels in the last week of April, said Jürgen Stackmann, head of sales and marketing for the German brand, on Wednesday. At the same time, in April, sales in Germany decreased by 60% compared to the same period last year, and in other European countries – by 85%, as some large markets, such as Italy and Spain, were completely paralyzed, said Stackmann.

The top manager of the German company noted that sales in North America fell by 50%, and in South America – by 81%.

“There is a tendency towards individual mobility, because today people want to avoid public transportation,” he said, explaining that the Chinese budget brand Jetta has increased market share after the country has eased quarantine.

According to Shtakmann, unlike Europe, there were still many new car buyers in China. In Europe, demand has been mixed. The countries of Northern Europe, including Norway, Sweden, Denmark and Germany, showed the best results. According to him, in Germany, car sales in April remained almost at a normal level compared to 2019.

According to Shtakman, the number of pre-bookings of the VW ID3 electric car amounted to 37 thousand units, with demand for it coming from all over Europe, but most of all – in Germany.