VW China CEO warns of market decline and fierce competition
Volkswagen China CEO Ralf Brandstaetter warns the car market may shrink for the first time since 2018. Intense competition will end the era of high profits.
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The regional head of VOLKSWAGEN AG has warned that the automotive market in China may be entering a period of contraction, marking a significant shift for the industry. Ralf Brandstaetter, the CEO of the company's regional operations, told the FAZ newspaper that the world's largest car market could see its first decline since 2018 as economic pressures and competition mount.
