VW sells 1.82 million cars in China in 2010

Shanghai VW | Ash | December 11, 2010 at 7:45 pm

VW appears to be betting the house on the Chinese market for 2011 and is hoping to beat Toyota to the world’s top automaker by 2018, but haven’t VW learned anything by watching the former top auto maker, GM, and subsequently Toyota, fail miserably once they reach that point? There’s nothing hot in being top it seems.

From 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.”

Ash

Ash came to China at 18 on a whim and never left. Some 10 years later he collected a degree and a family along the way and now focuses his time on watching the Chinese car industry develop. He has witnessed the market change from being minor backyard market in to the world's biggest and most important market for all car manufacturers. You can contact or connect with him via Linkedin by clicking the 'Website' link.