German carmakers in China lower performance targets

The Volkswagen emissions scandal has rocked the global auto industry.

A new survey found nearly 90 percent of German car makers operating in China have lowered their performance targets amid the scandal and slowing economic growth in China.

A survey from the German Chamber of Commerce in China said German car makers with a high market share in China had been relatively immune to market fluctuations since the global financial crisis in 2008, but are now being affected.

The survey also found that German machinery manufacturers, which are closely linked to the auto industry, have been hit hard, with 57.9 percent of them reducing their performance targets.

Leave a Comment