VW: Industry sales to advance 5% in 2017
Volkswagen AG expects light-vehicle sales in China to grow at a slower pace of 5 percent in 2017, as tax incentives for small cars are rolled back.
The forecast by VW China CEO Jochem Heizmann matched that of the China Association of Automobile Manufacturers, which made its prediction last month.
China's auto market, the world's largest, got a boost last year after the government cut taxes on cars with engines of 1.6 liters or smaller in late 2015.
That helped lift industry sales 15 percent to 24.4 million vehicles last year. For the period, Volkswagen sales in China rose 12 percent to 3.98 million vehicles, enough to edge rival General Motors as China's top-selling foreign automaker.
Heizmann did not offer a 2017 forecast for Volkswagen.
The forecast by VW China CEO Jochem Heizmann matched that of the China Association of Automobile Manufacturers, which made its prediction last month.
China's auto market, the world's largest, got a boost last year after the government cut taxes on cars with engines of 1.6 liters or smaller in late 2015.
That helped lift industry sales 15 percent to 24.4 million vehicles last year. For the period, Volkswagen sales in China rose 12 percent to 3.98 million vehicles, enough to edge rival General Motors as China's top-selling foreign automaker.
Heizmann did not offer a 2017 forecast for Volkswagen.
