Volkswagen's Jetta Achieves 1% Chinese Market Share Despite Coronavirus
May 22 2020 - 3:40AM
Dow Jones News
By Jessica Sier
Volkswagen AG's Chinese sub-brand Jetta has achieved 1% market
share in China, with coronavirus fears boosting demand for
personal-car ownership, the company said Friday.
During April, Jetta sold 13,500 vehicles across one sedan and
two SUV models, and since launch in September 2019, the sub-brand
has delivered around 81,000 units to customers in the world's
largest car market.
Despite the onset of coronavirus, which saw the Chinese car
market contract 30% between January and February, Jetta has
recorded a 12% fall in the first four months of this year, compared
to the first four months from market entry in September to December
2019.
"Eight months after the brand's launch, Jetta now holds a 1%
share of the world's largest automotive market," said Volkswagen in
a statement.
"Due to the impact of Covid-19, the desire for personal car
ownership has been rising in China, with customers now more
motivated than ever to avoid crowded public or shared
transportation."
Volkswagen's Jetta is targeting Chinese buyers in emerging
cities seeking to own a car for the first time.
Write to Jessica Sier at jessica.sier@wsj.com
(END) Dow Jones Newswires
May 22, 2020 04:25 ET (08:25 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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