Volkswagen sales rose 37% in China
Company Info November 6th, 2009
Volkswagen AG recorded sales in China rose 37% to 1.4 million vehicles last year prompted the government stimulus policies.
In a statement at the Wolfsburg-based company was named Volkswagen of Germany plans to produce seven new models in China this year.
Company to boost investments in China which is the largest car market in the world, along with economic growth that drives people’s purchasing power.
China Association of Automobile Manufacturers reported total sales of vehicles in China rose 42% in the first 11 months of last year.
Winfried Vahland, president of Volkswagen China, said the car market in China last year expanded beyond everyone’s expectations. “We were able to reach certain sales targets double to 2 million vehicles more quickly than planned,” he said.
Volkswagen’s sales target doubled by more than 2 million units in 2018.
Volkswagen, Ford Motor Co. and other automakers to accelerate the expansion and increase capacity in China to meet demand. German company plans to invest more than 4 billion euros (U.S. $ 5.7 billion) in China until 2011. While Ford spent U.S. $ 490 billion to build a third factory in the country
