Volkswagen Still No. 1 In China Passenger Auto Market
Volkswagen AG (VLKAY) has retained its position as the biggest passenger vehicle maker in China, the world's largest auto market, though some of its rivals posted bigger growth there in 2009.
The German auto maker's sales in China last year hit a record 1.4 million units, up 36.7% from 1.02 million in 2008, the company said Thursday, as Beijing's measures to support the car market boosted consumption.
Volkswagen's closest competitor in China, General Motors Co., said Monday it sold 727,620 vehicles in the country last year, a 63% increase, through its flagship passenger vehicle joint venture, Shanghai General Motors Corp. It also said it sold 60,000 Chevrolet Spark mini cars in 2009 through its mini commercial-vehicle joint venture, SAIC-GM-Wuling Automobile Co., in which it owns a 34% stake.
The firms' smaller rival in China, Ford Motor Co. (F), said its sales in China last year from its local passenger vehicle joint venture rose 55% to a record 315,791 units.
The auto makers' growth rates in China are in contrast with auto sales in developed markets around the world, which slumped due to the global recession.
China is widely expected to have overtaken the U.S. as the world's largest car market measured by last year's annual sales volume. More than 13 million vehicles were likely sold in the Asian nation last year, the China Association of Automobile Manufacturers said, compared with an estimated 10.4 million in the U.S.
On a monthly basis, China overtook the U.S. in sales volume early last year.
Volkswagen's sales growth was larger than that of one of its other main rivals in the country, Toyota Motor Corp., which said Wednesday its sales in China last year rose 21% to 709,000 units.
"We are full of confidence for 2010 (and) expecting a growth rate of 10% to 15% for the total automotive market in China," said Winfried Vahland, president and chief executive of Volkswagen Group China.
Vahland's forecast for China's car market is more optimistic than the 5% to 6% growth estimated by some analysts. China has rolled back a purchase tax cut on small cars this year to 7.5% from 5% in 2009, compared with the normal rate of 10%.
Vehicle sales in China rose about 40% last year, based on CAAM's forecast for sales of more than 13 million.
Sales of Volkswagen brand autos rose 32.4% to 1.12 million units in 2009, from 844,491 units in 2008, the company said in a statement.
Sales of its luxury Audi brand totaled 158,941 units, up 32.9% from 119,284 units in 2008, and sales of its Skoda brand vehicles more than doubled to 122,556 units last year from 59,284 units in 2008.
Volkswagen also sold 484 Bentleys and 118 Lamborghinis in China last year, the statement said.
Source: Volkswagen Still No. 1 In China Passenger Auto Market
The German auto maker's sales in China last year hit a record 1.4 million units, up 36.7% from 1.02 million in 2008, the company said Thursday, as Beijing's measures to support the car market boosted consumption.
Volkswagen's closest competitor in China, General Motors Co., said Monday it sold 727,620 vehicles in the country last year, a 63% increase, through its flagship passenger vehicle joint venture, Shanghai General Motors Corp. It also said it sold 60,000 Chevrolet Spark mini cars in 2009 through its mini commercial-vehicle joint venture, SAIC-GM-Wuling Automobile Co., in which it owns a 34% stake.
The firms' smaller rival in China, Ford Motor Co. (F), said its sales in China last year from its local passenger vehicle joint venture rose 55% to a record 315,791 units.
The auto makers' growth rates in China are in contrast with auto sales in developed markets around the world, which slumped due to the global recession.
China is widely expected to have overtaken the U.S. as the world's largest car market measured by last year's annual sales volume. More than 13 million vehicles were likely sold in the Asian nation last year, the China Association of Automobile Manufacturers said, compared with an estimated 10.4 million in the U.S.
On a monthly basis, China overtook the U.S. in sales volume early last year.
Volkswagen's sales growth was larger than that of one of its other main rivals in the country, Toyota Motor Corp., which said Wednesday its sales in China last year rose 21% to 709,000 units.
"We are full of confidence for 2010 (and) expecting a growth rate of 10% to 15% for the total automotive market in China," said Winfried Vahland, president and chief executive of Volkswagen Group China.
Vahland's forecast for China's car market is more optimistic than the 5% to 6% growth estimated by some analysts. China has rolled back a purchase tax cut on small cars this year to 7.5% from 5% in 2009, compared with the normal rate of 10%.
Vehicle sales in China rose about 40% last year, based on CAAM's forecast for sales of more than 13 million.
Sales of Volkswagen brand autos rose 32.4% to 1.12 million units in 2009, from 844,491 units in 2008, the company said in a statement.
Sales of its luxury Audi brand totaled 158,941 units, up 32.9% from 119,284 units in 2008, and sales of its Skoda brand vehicles more than doubled to 122,556 units last year from 59,284 units in 2008.
Volkswagen also sold 484 Bentleys and 118 Lamborghinis in China last year, the statement said.
Source: Volkswagen Still No. 1 In China Passenger Auto Market
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