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BEIJING (XFN-ASIA) - FAW-VW, Volkswagen's joint venture with First Automotive Works Corp, plans to more than double sales to 600,000 cars by 2011 from 277,300 last year, the China Daily reported.
The projected sales figure would comprise of 450,000 VW-branded cars and 150,000 under the company's Audi brand, the newspaper said.
The venture, based in northeast China's Jilin province, hopes to have 10 pct of the Chinese market by 2010, the newspaper added.
In the first eight months of the year, FAW-VW's sold 175,585 VW-branded and cars and 52,091 Audis, making it the country's third biggest automaker, the newspaper said.
The venture expects to sell 352,000 vehicles in total this year.
It also plans to expand its product line-up.
'We will launch at least one new model every year to meet growing market demand,' the newspaper quoted An Tiecheng, president of FAW-VW, as saying.
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http://www.forbes.com/business/feeds/afx/2006/09/20/afx3033745.html
The projected sales figure would comprise of 450,000 VW-branded cars and 150,000 under the company's Audi brand, the newspaper said.
The venture, based in northeast China's Jilin province, hopes to have 10 pct of the Chinese market by 2010, the newspaper added.
In the first eight months of the year, FAW-VW's sold 175,585 VW-branded and cars and 52,091 Audis, making it the country's third biggest automaker, the newspaper said.
The venture expects to sell 352,000 vehicles in total this year.
It also plans to expand its product line-up.
'We will launch at least one new model every year to meet growing market demand,' the newspaper quoted An Tiecheng, president of FAW-VW, as saying.
[email protected]
http://www.forbes.com/business/feeds/afx/2006/09/20/afx3033745.html