The Volkswagen group is planning to double its vehicle sales in China to 2 million by 2018 by expanding its product portfolio and dealer network.
The new 10-year blueprint indicates VW wants to maintain momentum in China during a global struggle for survival.
VW said it will launch four models each year in China over the next decade, using its major Audi, Skoda and Volkswagen brands. It also plans to double the number of China dealerships to 2,000.
"Although the global economy and auto market are full of uncertainty, we remain confident about China's auto industry as well as our long-term development here," said Winfried Vahland, president and chief executive of Volkswagen's China operations.
Vahland said earlier that Volkswagen will invest $3 billion in China from 2008-'10 to develop new products, technology and networks. Volkswagen currently has a 19 percent market share in China, compared with 12 percent for GM and 7 percent for Toyota.
Last year, Volkswagen boosted sales by 12.5 percent to 1.02 million units in China. But that growth rate was down from 28 percent a year earlier as the slowing economy curbed vehicle demand and competition intensified with General Motors and Toyota.
China's total market expanded 6.7 percent last year, the slowest pace in a decade, to 9.4 million vehicle sales.
GM posted sales growth of 6.1 percent to 1.09 million in 2008 and Toyota sold 585,000 units, an increase of 17 percent.
VW said China became its second-biggest market last year, and it is just a matter of time before China replaces Germany as its biggest.
The new 10-year blueprint indicates VW wants to maintain momentum in China during a global struggle for survival.
VW said it will launch four models each year in China over the next decade, using its major Audi, Skoda and Volkswagen brands. It also plans to double the number of China dealerships to 2,000.
"Although the global economy and auto market are full of uncertainty, we remain confident about China's auto industry as well as our long-term development here," said Winfried Vahland, president and chief executive of Volkswagen's China operations.
Vahland said earlier that Volkswagen will invest $3 billion in China from 2008-'10 to develop new products, technology and networks. Volkswagen currently has a 19 percent market share in China, compared with 12 percent for GM and 7 percent for Toyota.
Last year, Volkswagen boosted sales by 12.5 percent to 1.02 million units in China. But that growth rate was down from 28 percent a year earlier as the slowing economy curbed vehicle demand and competition intensified with General Motors and Toyota.
China's total market expanded 6.7 percent last year, the slowest pace in a decade, to 9.4 million vehicle sales.
GM posted sales growth of 6.1 percent to 1.09 million in 2008 and Toyota sold 585,000 units, an increase of 17 percent.
VW said China became its second-biggest market last year, and it is just a matter of time before China replaces Germany as its biggest.
Times have changed dramatically since the days when VW commanded more than half the China market, but the German automaker aims to keep moving forward.
Write By : Vivian Jin
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