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VW aims to take 20% of China's sedan market
Shanghai. October 17 (Gasgoo.com) –Volkswagen plans to increase its market share in China from the current 18 percent to 20 percent, Chinese media reported yesterday.
The German automaker has recently raised its 2007 sales target in Chinese market from 800,000 vehicles to 900,000. The company expects to sell more than one million vehicles in Chinese market next year, said Winfried Vahland, president of Volkswagen China.
To increase its output capacity in Chinese market, Volkswagen is planning to acquire other automakers and to start a new plant in China, but Winfried Vahland offered no specifics on the proposed new plant.
In the first nine months this year, FAW-VW sold 345,521 vehicles and Shanghai VW sold 334,469 vehicles.
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