Volkswagen on Tuesday stated it will release an entry-level JETTA brand in China in the third quarter in 2019, as a measure to grab first-time buyers in the world’s largest car market which has begin to sputter.
Car sales in China dropped for a seventh straight month in January, the country’s top auto industry association stated previously this month.
A third of the Chinese auto market is in a segment which is positioned below the core volume segment, where the Volkswagen brand is market leader, VW stated.
To grab market share in the entry-level segment, where 80 percent of clients are first-time car buyers, VW is making the JETTA brand, the automaker stated.
Chinese joint venture partner FAW Volkswagen is going to use JETTA to offer a limousine and two sports utility vehicle that can be purchased through JETTA dealerships and mobile sales trucks in shopping malls. By the end of 2019, there will be around 200 dealers providing cars under the JETTA brand, VW stated.