China Becomes Volkswagen's Largest Overseas Market

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Last updated at: (Beijing Time) Friday, January 24, 2003

China Becomes Volkswagen's Largest Overseas Market

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Volkswagen Corporation sold 511,000 sedans last year in China, making it the Germany-based firm's second largest market only after Germany, according to information from Volkswagen (China) Investment Co., Ltd. Thursday.

Meanwhile, the Changchun-based FAW-Volkswagen Automotive Company Ltd. in northeastern China reported record sales of 207,000 units in 2002, up 66.4 percent from the previous year, with revenue of 30 billion yuan (3.6 billion U.S. dollars).

The German firm successfully promoted different models for various potential buyers. In 2002, consumers in China bought 35,000 units of Audi A6, 120,000 Jettas and 50,000 Boras.

The Volkswagen Corporation, which entered the Chinese market in 1985, has so far set up five joint ventures.

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