Volkswagen Sees Mild Growth In China’s Premium Car Segment This Year

German automaker Volkswagen AG expects slight growth in China’s premium car segment this year despite a slide in broader market sales, a senior executive said.

Volkswagen Group’s China chief, Stephan Woellenstein, made the remarks to reporters in Beijing on Friday.

Volkswagen replaced Herbert Diess as chief executive of the VW brand on Monday and installed Chief Operating Officer Ralf Brandstaetter to lead cost-cutting efforts.

In China, the world’s biggest auto market, Volkswagen has joint ventures with local partners including SAIC Motor, FAW Group, and JAC.