Volkswagen Group First-Half Sales Increase 46% in China, Led by Audi Brand
Stock Chart for Volkswagen AG (VOW)
Volkswagen AG, the biggest foreign carmaker in China, boosted sales in the nation 46 percent in the first half after introducing new models to attract consumers in the world’s largest vehicle market.
The automaker’s sales to consumers rose to 950,278 vehicles in the greater China area, it said in an e-mailed statement today. Deliveries of Audi luxury-brand sedans rose 64 percent to 109,887.
“We are practically sold out of many of our models,” said Winfried Vahland, president and chief executive officer of Volkswagen China.
Volkswagen plans to invest 4.4 billion euros ($5.5 billion) to expand production capacity and introduce new models in the country, Chief Executive Officer Martin Winterkorn said in April. The Wolfsburg, Germany-based automaker sold 1.4 million vehicles in China last year and aims to boost annual sales to more than 2 million in the “medium-term,” Winterkorn said then.
Volkswagen, which counts China as its biggest market, added models including the Tiguan sport-utility vehicle, the Audi Q5 and an upgraded Jetta this year. The company will start sales of the CC four-door sports coupe on July 15 in Shanghai, the company said in today’s statement.
General Motors Co., VW’s biggest overseas rival in China, increased deliveries 49 percent to 1.21 million vehicles in the first six months.
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.