Shanghai VW sees Polo sales grow 90% in Feb

Shanghai, March 6 (Gasgoo.com) Stimulated by the sales/purchase tax cuts (to 5%) for small cars, Shanghai VW's Polo series saw rapid sales growth of nearly 90% last month, said sina.com today.

In February, there were 8,156 Polo cars sold, including 4,664 Polo hatchbacks, 2,905 Polo sedans, and 587 Cross Polo cars. The sales of Polo hatchbacks and sedans increased by more than 86% from January, and the Cross Polo's sales grew by 178.2% month on month.

Shanghai VW has targeted its Polo series of small cars at the young Chinese consumers. The Polo Jingqing and Polo Jingqu were specially designed as fashionable high-quality models for the "fifth-generation" demographic.

The joint venture has recently launched its "Warm Spring Promotion" with three bountiful giveaways to Polo buyers: 1. the 10,000 yuan ($1,470) discount; 2. no need to pay the 5% sales/purchase tax; 3. the car insurance premium.

In mid-February, Shanghai VW reduced the prices of its Polo series of compact cars to between 85,800 and 122,600 yuan, from the previous 90,800-133,000 yuan, to lure customers amid slower demand.