Volkswagen Says China Car Sales to Rise 40 Percent

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Last updated at: (Beijing Time) Friday, December 06, 2002

Volkswagen Says China Car Sales to Rise 40 Percent

German automaker Volkswagen AG says its sales in China will rise nearly 40 percent to half a million vehicles this year and double to one million in 2007.

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German automaker Volkswagen AG says its sales in China will rise nearly 40 percent to half a million vehicles this year and double to one million in 2007.

Volkswagen's Jetta and Santana models have helped it capture an estimated 40 percent share of China's passenger car market.

The auto giant also plans to launch a new car aimed at first-time buyers.

Called the Gol, the four-door compact will be powered by a 1.6 litre engine and will sell for "considerably less" than $12,000, making it one of the cheapest foreign cars on the market.

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