Volkswagen: V-shaped rebound in China's auto market
Volkswagen AG, the world ’s highest-selling automaker, predicts that the recovery rate of major auto markets will vary.
Juergen Stackmann, the sales director of Volkswagen Brand Auto Group, told reporters on Wednesday that China's sales in April have basically returned to pre-crisis levels. He said that this market is experiencing a typical V-shaped rebound.
Before the crisis, there were some unique factors that made the Chinese market unique, and these factors are now working to bring help to the market. The most important factor is that China's per capita car ownership is lower than in Europe and the United States.
In Europe, the recovery rate of the automotive industry is expected to be slower, and the recovery rates of northern and southern Europe are also different.
He said: "We don't actually expect a V-shaped rebound in Europe." He said: "In Europe, we all have cars, so we think the recovery in Europe will take longer. We expect two recoveries in Europe. This kind of speed. The impact on southern Europe is really serious. The recovery will take longer than in China. As economists say, it is more like a bathtub-type recovery. Northern Europe has really withstood the impact. "