Vw sales increased 8.6 percent in May helped by growing demand in China

Article by Christian Andrei, on August 25, 2010

With the increasing car demand in China and the US, sales of Volkswagen rose by 8.6% in May. From 556,500 units a year ago, VW's deliveries at seven car brands and its commercial-vehicles unit now total 604,200. For the first five months of the year, sales reached 2.94 million, an 18% gain.

In a statement, VW sales chief Christian Klingler said that VW is "reaping greater than average benefits" from the high demand in the markets in China and the US.

VW aims to have record sales for the second straight year by adding 60 new models, including upgrades, in 2010.

Last June 9, VW said that it will construct its tenth plant in China as it plans to double production capacity in this market to 3 million vehicles in a span of four years. In fact, VW is investing 6 billion euros ($7.3 billion) for its operations in China.

CEO Martin Winterkorn considers China to be vital to achieve his goal of beating Toyota Motor Corp. in sales and profitability by 2018.

In the first five months of the year, VW's sales rose to 777,800 units, a 48% increase. Christian Aust, an analyst at UniCredit SpA in Munich, said that VW's sales continue to rise across major markets "though the pace of gains is slowing as sales incentives expire."

Topics: vw, china, sales

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