Volkswagen to spend $102 million on Beijing Olympic

Shanghai. August 28 (Gasgoo.com) - As a premium sponsor for Beijing Olympic Games 2008, Volkswagen Group announced a total investment of 102 million dollars for the event, including 20 million dollars allocated for vehicle sponsorship.

During the Olympics, Volkswagen will provide over 5,000 vehicles for athletes, guests and Olympics staffs, the company announced.

Volkswagen's total sales rose 51 percent Year-on-Year in July, well ahead of the market average. In the first seven months, Shanghai VW sold 261,631 vehicles, up 37.9 percent and FAW VW sold 259, 538 vehicles, up 45.3 percent year-on-year, according to a Morgan Stanley report.

Auto magazine said Volkswagen will double its annual output capacity from 800,000 units to 1.20 million and its total investment in China will reach 6 billion euros in the next five years.