FAW-Volkswagen sees huge potential for Chinese car market

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CHANGCHUN, May 22 (Xinhua) – Sino-German joint venture FAW-Volkswagen continues to occupy a leading position in the world’s largest automobile market and looks to a bright future.

FAW-Volkswagen Senior Vice President (Finance) Dr. Andre Stoffels made the remarks in a recent exclusive interview with Xinhua.

This year marks the 30th anniversary of the founding of the company in Changchun, capital of Jilin Province of China. Over the past decades, FAW-Volkswagen has grown into one of the best-selling passenger car manufacturers in China.

Stoffels attributed the booming development of the company to the good business environment in Jilin.

A stable industry and supply chain, a large number of talents, and a friendly automotive ecosystem in Changchun have made it much easier to set up automotive manufacturing factories here, he noted.

In 2020, the company’s vehicle sales increased 1.5% year-on-year to more than 2.16 million units. In the first quarter of 2021, its vehicle sales climbed 72% year on year to 580,529 units, according to the company.

“China is already the number one automobile market and will continue to be the world’s largest automobile market in the future,” Stoffels said.

In recent years, the market share of new energy vehicles (NEV) is increasing in China. In 2020, NEV’s sales in China increased 10.9% year-on-year to 1.37 million units.

In Stoffels’ view, the better-than-expected sales of NEVs came as part of the country’s efforts to encourage their use and ease pressure on the environment, which has boosted the market’s enthusiasm for eco-friendly cars.

“FAW-Volkswagen actively promotes carbon-free production at its manufacturing sites in China,” he said.

Stoffels praised China’s policy of openness, saying openness has brought not only foreign capital, but new ideas and concepts to China.

Stoffels also praised the effective COVID-19 epidemic prevention and control measures taken by central and local governments in China.

As a large company, FAW-Volkswagen has not reported any COVID-19 infections among its employees, he said, adding that epidemic prevention and China’s favorable financial measures “support us by this period of crisis “.

“We were among the first companies to increase production after the outbreak,” Stoffels said, adding that as global auto brands look to the booming Chinese auto market, FAW-Volkswagen will strive to retain its leadership position in China.

Chinese automaker FAW Group sold more than one million vehicles in the first quarter of this year, up 74.3% year-on-year. Founded in 1953 in Changchun, FAW Group is considered to be the birthplace of the Chinese automobile industry.

Produced by Xinhua Global Service



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