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Volkswagen profit in China rose 172% last year
Shanghai. March 17 (Gasgoo.com) - The world's fourth-largest carmaker Volkswagen said that its annual profit reached 294 million euros ($458 million) in China last year, up 172.22 percent compared with 108 million euros achieved one year earlier.
"We will continue to expand our product line and launch more models that can meet varying demands from different markets," said Martin Winterkorn, CEO of VW.
Volkswagen, through its joint venture with FAW and SAIC, sold a total of 920,489 vehicles in the Chinese market in 2007, up 33 percent from the previous year.
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