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Volkswagen Sales In China Stall In 2022

  • Volkswagen sees no sales growth in China in 2022.
  • Previously, Volkswagen had forecast sales of 3.85 million for the year.
  • The company is expecting about 3.3 million vehicles sold in 2022.

If Volkswagen was hoping for a post-pandemic bounce back in China, they may have to wait another year...

The automaker announced this week that they are expecting sales in China to stay nearly steady on a year-over-year basis from 2021. The company is expecting about 3.3 million vehicles sold in 2022, according to Reuters

The company head of China told media this week that the company is still struggling to "make up the impact of coronavirus lockdowns and chip shortages". Previously, Volkswagen had forecast sales of 3.85 million for the year.

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This number would have been on a par with pre-pandemic numbers, but it doesn't look as though the automaker is even going to make it within 10% of its original sales goal. The company had already adjusted its expectations for sales during the middle of the year, the report says. 

In July the company said that monthly production had improved, but that it wasn't able to make up for a shortfall from the beginning of the year. 

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But there is somewhat of a silver lining: the company is still expecting sales of ID electric vehicles to double this year and new Covid restrictions that China has implemented over the last few weeks have not impacted Volkswagen, the company said. 

China chief Ralf Brandstaetter said that he would be visiting the company's plant in Xinjiang amidst reports of human rights violations in the area.

"I would like to get a first-hand look on site as soon as possible. That was not possible until now because of coronavirus restrictions," he concluded.

By Zerohedge.com

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