Carmaker Volkswagen expects its sales in China, the world's largest car market, in March, will be increased four times, indicating a recovery after a pandemic coronavirus.
"We cautiously hope that the worst effects of the crisis will be over in two or three months," said Stefan Weinstein, the head of the Chinese division of Volkswagen.
the company noted that demand is still limited, and two of the Volkswagen automobile factory in Changsha and Urumqi are still closed.
However, Weinstein expects new car sales to 1 million in March, compared to 250,000 in February. In General, for 2020 Volkswagen expects a decline in sales of 3-15% in the Chinese market, but has confirmed plans to invest more than 4 billion euros ($4.4 billion) this year, with about 40% of this amount is intended for electric driving.
"We expect that the recovery will continue and that in 2021 we will again work in normal market conditions," said Wallenstein.
Volkswagen plans to sell 1.5 million electric vehicles in China annually by 2025.
Business activity in China's manufacturing sector unexpectedly rose in March, after the collapse the previous month, but analysts warn that until sustainable recovery is still far, because it is caused by a coronavirus, the world crisis has hit export demand and faces a severe recession.
the Official index of purchasing managers (PMI) for the manufacturing sector of China in March rose to 52 points from a record low of 35.7 points in February, according to the National Bureau of statistics of China. Respondents Reuters analysts had expected that figure will be 45 points. A mark of 50 points separates growth from decline.
