Summary: VW's increasing sales in the Chinese automobile market from 2010 onwards

Gasgoo.com (Shanghai) - Now the world's largest automobile market, China has long since been a major part of Volkswagen's global strategy and a major source of its total profits. The Chinese market also possesses great potential for growth, with sales and profits increasing on a daily basis. VW's performance figures over the last few years provides a good example of the rapid growth of the market.

VW has seen its global sales increase dramatically over the last few years. According to statistics collected from Gasgoo.com (Chinese), 9.72 million vehicles last year, 33.7 percent more than the 7.27 million it sold in 2010. The manufacturer has set a sales target of ten million vehicle sales for 2014. VW seems set to smoothly meet this target, as it has already sold 5.2 million vehicles globally in just the first six months of this year.

As VW's global sales continue to grow, the importance of the Chinese market in its global agenda has also been increasing. In 2010, VW sold 1.87 million vehicles in China, which accounted for 25.7 percent of its total global sales in that year. After only three years, that proportion increased to 31.2 percent, when VW sold a total of 3.03 million automobiles in China. VW has sold 1.84 million vehicles in China over the first six months of this year. That figure represents a year-on-year growth rate of 21.8 percent, far above VW's global growth average of 6.9 percent.

Along with increasing sales, the amount of profits the Chinese market is generating for VW is also growing. VW's global profits in 2013 totaled 11.6 billion euros. 36.8 percent of that came from China, compared to 26.7 percent the market contributed to VW's total global profits in 2010.

So far this year, VW has reported a profit of 6.19 billion euros, 42.4 percent of which has come from the Chinese market. Profits from Chinese VW sales so far this year totaled 2.62 billion euros, up 10.6 percent from the amount generated in the first half of last year.