Volkswagen Chief Optimistic of Company’s Outlook for 2016

The Head of Volkswagen (VW) Group in China, Jochem Heizmann, said on Saturday that he was optimistic of the company's outlook for 2016.

Heizmann, said in Beijing that the ``volume is not everything’’ in the competition with General Motors (GM) Company to lead the world's largest car market. The company must also look out for profitability and ``residual value’’, Heizmann said on the sideline of an auto industry conference in Beijing.

GM surpassed VW for passenger vehicle sales in China in 2015, China Association of Automobile Manufacturers data said.

Volkswagen's global business has come under increased scrutiny since it admitted in September to misleading U.S. regulators about emissions with the help of on-board engine control software.