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Volkswagen AG's China car sales slumped as much as a fifth in August as competition increased and carmakers slashed prices to clear their inventory.
Shanghai Volkswagen Automotive Company sold some 26,000 passenger cars in August, down less than twenty percent from the same period last year.
FAW- Volkswagen Automotive Company in the northeastern city of Shenyang, sold over 20,000 cars in August, down more than 20 percent from the same period last year.
China's car sales have been dropping this year as a slew of price cuts amid rising competition caused customers to deter their purchases in the hopes of getting more discounts.
(CRI.com September 3, 2004)
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