Volkswagen AG aims for its sales in south China to more than triple by 2018. This target is included in VW's main strategy to double sales to 2 million units in China within the same timeframe. Winfried Vahland, president and CEO of Volkswagen's China operations, told reporters that China will play a key role in VW's intention to beat Toyota Motor Corp. and be the world's top-selling automaker by 2018.
China is recognized to be one of the largest markets in the world and VW wishes to compete with GM and other carmakers in this country.
Vahland said that VW's "extraordinary growth" in its sales volume in China will continue to accelerate its pace of development. He even thinks that VW will achieve its targets ahead of its schedule.
VW is already a dominant player in north and east China and has a market share of more than 20 percent in each region through its partnerships with SAIC Motor and FAW Group.
However, in south China, which Vahland says is one of the wealthiest and most developed markets in Asia, VW only has 12 percent of the market.
Official data show that South China is expected to contribute about a third of the country's GDP, up from 30 percent in 2008. Japan's Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co. all have manufacturing bases in south China.