Volkswagen to sell 1 mln cars in China in '08

Shanghai, December 9 (Gasgoo.com) Volkswagen AG, Europe's biggest carmaker, is expecting to sell more than one million automobiles in China this year for the first time, a senior company official said.

"We are on course to sell 1 million cars in China this year," Winfried Vahland, president and CEO of Volkswagen Group China. "Neither the global economic crisis nor a lack of consumer confidence will hamper this target."

This year the Germany-based automaker has sold 931,000 cars in China through to the beginning of December, Vahland said.

Looking ahead, Volkswagen said it expects trading to be tough in China during the first six months of 2009 but is still planning for growth.

In 2009 VW plans to build sixth-generation Golf and news Jetta cars at its Chinese joint ventures while VW CC, R36 and Scirocco will be sold through imported unit.

In a separate report, the five VW board members, which includes company CEO Martin Winterkorn, made a total of €25 million ($32 million) last year following a 55% share value hike in October while currently American carmakers are under fire for excessive executive remuneration.