BERLIN, July 29 (Reuters) - Volkswagen said sales growth in China may grind to a halt in 2015 after years of double-digit volume gains in its largest market.
“It will take time for market conditions to become more favorable,” Finance chief Hans Dieter Poetsch said during an earnings call on Wednesday.
Sales could even decline slightly from last year’s 3.68 million deliveries, sales chief Christian Klingler said, citing a switch from buyers to smaller vehicles, momentum shifting to less developed areas and heightening competition.
VW will focus more strongly on the “cost side” of Chinese operations and sees “very significant” potential to rein in spending, Poetsch said, without being more specific. (Reporting by Andreas Cremer; Editing by Arno Schuetze)