FAW-VW aims to sell 1.5m vehicles in 2013, president says

Gasgoo.com (Shanghai December 19) - FAW Volkswagen will aim to sell 1.5 million vehicles next year, the Beijing Youth Daily reported Board Chairman and President An Tiecheng as stating. Mr. An made the comments at the press conference for the market release of the New Bora. His confidence in announcing the sales target caught many off guard, as FAW-VW is usually relatively low key regarding its future plans.

Mr. An's (pictured above) comments came not long after the board of directors summit held in Foshan, Guangdong took place, in which the joint venture also revealed several other development plans. At the conference the JV announced its intent to attain ten percent market share by 2015.

In spite of the relatively slow growth rates the Chinese market is experiencing recently, Mr. An is confident that FAW-VW will be able to acheive both sales and market share goals. Ever since 2007, when the JV announced its goal of one million vehicle sales, it has managed to make surprising progress. In just four years time the JV managed to attain its 1m sales target, a year earlier than anticipated. Over the last five years the JV's sales have grown an average of 24 percent every year while its annual production capacity increased 29 percent. Both growth rates are far above the industry average.

FAW-VW's rapid development has been credited to its expanding lineup of attractive models. Starting in 2007, when the VW Magotan was released, the JV has introduced a slew of well-received products, including the Audi A6L, Golf A6, Audi B8, Audi Q5, Golf GTI (pictured below), Golf CC and New Sagitar. These and FAW-VW's other models have managed to make a significant impact in their respective segments. In addition, the JV has also received industry-wide praise for its sales strategies and R&D work.