Tuesday 19 August 2008

China set to be Volkswagen's largest market (CN)

China is ready to overtake Germany as the world’s biggest market for Volkswagen vehicles. According to VW China executives, the company is set to sell 1.05 million vehicles this year, with the first half having reached 531,614 units. These were 3,000 units less than sales in Germany but the figure represented a growth rate of 23.2% over the past year, compared to 3.7% growth for Germany. This goal will certainly not be an easy one to achieve but for VW Group, China’s market leader at 19.1% share, it will be easier than most others. With the help of Project Olympia which was a strategy from years ago, VW will introduce a string of new models in China, more than 12 in the next two years.

Costs will be cut, better brand positioning attained and marketing beefed up. In fact, the market is so important, cars like the compact Lavida sedan are developed with Shanghai Auto and will be totally unique to the Chinese market.

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