Volkswagen China chief expects China's passenger car market to decline by 20% in 2026

​China's ‌passenger car market ​is ‌expected to decline by about 20% ‌in 2026, ‌Volkswagen's top executive in China Ralf ⁠Brandstaetter ​said ⁠on Tuesday.

The current ⁠contraction in the ​market in China ⁠was equivalent to ⁠the ​impact of the COVID-19 ⁠pandemic, Brandstaetter told ⁠an industry ⁠summit.