China - one of the most up, coming new auto markets in the world, Volkswagen announced Monday that China likely will be taking over Germany like the biggest market of the automaker.
Volkswagen was one of the first to invest on the market in China. VW holds currently a 19.1 % market share on China, standing to gain more in the upcoming years. Volkswagen expects to debut 12 to 14 all-new units in China over these next 2 years, compared to only 11 launches from 2005 to 2008.
Although the sales slowed a bit in 2008, Volkswagen`s sales in China are up 23.2 %, totaling 531,614 autos, Automotive News reports. The German sales for VW currently total 534,390 models, but the market`s raise in Germany of only 3.7 % should be allowing China to really eclipse Germany as the number 1 market for VW by the end of the year.
Volkswagen expects the market in China to raise from 5.6 million autos to 10.3 million in the next ten years.
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