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Vwg_p.de expects sales in China, the world's largest car market, to quadruple in March, suggesting that sales will resume after the coronavirus pandemic.
"We are cautiously optimistic that the worst consequences of this crisis will disappear in two to three months," said Stephen woellenstein, head of Volkswagen's China operations
Volkswagen said demand remained limited, adding that it was ready to increase capacity at its plants in the country, 22 of which have resumed production. Automakers said two auto plants in Changsha and Urumqi were still closed.
Mr woellenstein said he expected car sales to reach 1 million in March, up from 250000 in February.
"There are increasing signs that business is recovering. By the middle of the year, we can go back to last year's plan. Hope is returning to the Chinese market. "
Volkswagen expects the Chinese market to decline by 3-15% by 2020, but confirms plans to invest more than 4 billion euros ($4.4 billion) in the market this year, of which about 40% is for electric vehicles.
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