Volkswagen AG said industry wide demand in China will plunge if a tax cut due to expire at the end of the year is allowed to lapse.
The German automaker is in talks with both the government and the China Association of Automobile Manufacturers to determine whether the tax cut will be extended, said Volkswagen China chief Jochem Heizmann.
Volkswagen Group delivered a record 1.86 million vehicles in the first half in China and Hong Kong, after the government cut the tax on purchases of models with smaller engines to 5% from 10% .
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The German automaker is in talks with both the government and the China Association of Automobile Manufacturers to determine whether the tax cut will be extended, said Volkswagen China chief Jochem Heizmann.
Volkswagen Group delivered a record 1.86 million vehicles in the first half in China and Hong Kong, after the government cut the tax on purchases of models with smaller engines to 5% from 10% .
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