12/10/2010

VW to Deliver Record 7 Million Cars as Chinese Business Booms

Dec. 10 (Bloomberg) -- Volkswagen AG, Europe’s largest carmaker, said annual deliveries in 2010 will exceed 7 million for the first time as sales in China surge.

VW’s 11-month deliveries in the world’s largest car market advanced 38 percent to 1.82 million vehicles, accounting for 28 percent of global sales, the Wolfsburg, Germany-based company said in a statement today.

Chief Executive Officer Martin Winterkorn is counting on China, VW’s largest market, to surpass Toyota Motor Corp. as the world’s biggest carmaker by 2018. Passenger-car deliveries in China surged 29 percent in November to a record 1.34 million, the China Automobile Industry Association said yesterday.

“Overall prospects for China continue to look good,” said Aleksej Wunrau, an analyst at BHF-Bank AG in Frankfurt who has an “overweight” rating on the stock and forecasts an industry- wide sales gain of 12 percent in China next year. “VW will again be in for double-digit growth.”

Read more at BusinessWeek

Dec 10, 2010 9:55:59 AM | Automobiles, Current Affairs

2 Comments

Claudine Corbita

VW rwally wants to increase their gain this time and for that China is the place to be for the economy of China today is stable.

Claudine
http://www.TheChinaBusinessGuide.com

Posted by: Claudine Corbita | 12/19/2010 at 12:53 AM

wdbox

I would disagree with you only to the extent that China holds in its hands the financial success of ALL automobile companies.

Posted by: wdbox | 12/26/2010 at 10:19 AM

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