China could cool off, says Pischetsrieder.(News)(Volkswagen AG's Bernd Pischetsrieder on market activity)(Industry Overview)

Byline: Wim Oude Weernink

For the first time the world's three major car markets - the USA, Europe and Japan - have declined simultaneously, said Volkswagen CEO Bernd Pischetsrieder.

But the Volkswagen group has an important offsetting factor - China, where it is the market leader.

"Our growth in China was 70 percent last year and we expect growth of 90 percent this year," said Pischetsrieder, a keynote speaker at the Automotive News Europe Congress.

Volkswagen now controls 40 percent of the new-car market in China. But VW's CEO warned against too much China ...