- Global auto giant Volkswagen plans to invest another $19 billion in China between 2012 and 2016.
- The German automaker will launch nearly 50 new models in China by 2015.
- VW said it will achieve its 2018 corporate sales target in China ahead of schedule.
GUANGZHOU, China — Global auto giant Volkswagen plans to invest another $19 billion in China between 2012 and 2016, and will launch nearly 50 new models by 2015.
Speaking at the 2011 Guangzhou Auto Show, Karl-Thomas Neumann, CEO and president of VW China, said the company is on pace to sell 2 million cars this year in China — a year-to-year increase of 15 percent and a market share of nearly 16 percent.
"The steady growth will make 2011 the most successful year for Volkswagen in China," Neumann said at the show, adding that VW is "very optimistic on car demand in the country in the medium term."
Neumann said it is boosting its production capacity in China with partners Shanghai Auto and FAW to 3 million units a year by 2015, and that it will achieve its 2018 corporate sales target ahead of schedule.
At the Guangzhou show, VW introduced the redesigned Sagitar, a local sedan based on the Jetta, along with the latest version of the Sharan minivan.
Inside Line says: VW expects to continue achieving double-digit annual growth in China for the foreseeable future.
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ttbuyer says:
07:31 AM, 11/27/2011
VW needs to invest $19 billion in quality control, their cars suck!
urbanxj says:
07:38 PM, 11/25/2011
Here's a novel thought - invest in reliability.
standfast68 says:
04:46 PM, 11/25/2011
If you believe what Google gives you, VW is investing over 4 Billion into the plant in TN, with apparently 12 billion in local economic growth. Eventually 2000 full time jobs there. Not bad?
deathtollwrx says:
12:26 PM, 11/25/2011
I wish companies would invest in the United States!
Kia rocks, Thanks for employing Americans in Georgia.