VW gain profits thanks to China's market

According to VW group's head of sales and marketing Jacoby, global sales of VW in the first two months climbed 7.6%, which is mostly contributed by the Chinese market. The company is growing slightly below the Chinese market and they hope to gain 20% market share for the group in the next two to three years.

It is reported that VW's two joint-ventures accounted for 17 % market share in China with total sales exceeding 700,000.

VW say they will start producing Skoda brand models in China this year and VW Magotan will also be introduced onto the market, aiming to regain leadership on mid-high range auto market.