Output of autos for the Chinese market is being cut back by some major manufacturers as demand is slowing. Reuters says that makers such as Germany’s Volkswagen are also cutting costs including wages. BMW confirmed that it is also slowing production as it does not intend to stockpile its vehicles. At the opening day of the Frankfurt auto show Tuesday the mood is upbeat despite the Chinese slowdown; European sales in August were up 11.5 per cent from a year earlier.
More market talk: