When Volkswagen Group's singled out auto financing companies for extra help this week , it ended up freeing up $30m ( $30m ) for Volkswagen Group's 's (VW) Chinese unit, which is being used to top up falling car sales says VW's General Manager Harald Mueller . "It can be used to reduce our cost of funds, and we can pass that on to the customers" said Mr Mueller . the People's Bank of China China sales have fallen 5.3% YoY for 28 , primarily due to China 's economic slowdown.
When the People's Bank of China singled out auto financing companies for extra help this week, it ended up freeing up over RMB 200m ($30m) for Volkswagen's (VW) Chinese unit, which is being used to top up falling car sales says VW's General Manager Harald Mueller. "It can be used to reduce our cost of funds, and we can pass that on to the customers" said Mr Mueller. Volkswagen Group's China sales have fallen 5.3% YoY for 1H15, primarily due to China's economic slowdown.