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Volkswagen hopes exports will make up for some of China downturn, CFO says

By Reuters News

BERLIN, Oct 29 (Reuters) - Volkswagen hopes an increased focus on China as an export business will help offset falling volumes in the market, where the group's joint venture in Anhui is currently operating at a loss, finance chief Arno Antlitz said on Thursday.

The German auto group is aiming for an 11% market share in the world's largest car market, meaning 2.3 million vehicles annually under revised forecasts due to a slowdown in demand, Antlitz said. This compared with previous plans for up to 2.8 million.

"We try to fill the gap now," he said, adding that initial export opportunities to the Global South from China were seen at roughly 300,000.

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