Volkswagen Debuts First compact Car in China's Shanghai

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Last updated at: (Beijing Time) Thursday, March 06, 2003

Volkswagen Debuts First compact Car in China's Shanghai

Volkswagen's two-door Gol rolled off the assembly line and debuted in this metropolis last Friday.

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Volkswagen's two-door Gol rolled off the assembly line and debuted in this metropolis last Friday.

The three Gol models manufactured in Shanghai are priced between 75,000 and 98,300 yuan (9,000 to 11,800 US dollars).

The Gol will open the door to the sub-100,000 yuan (12,000 dollar) market, the fastest growing segment of the market in China.

Initially developed in VW's plant in Brazil, the Gol is recognized as one of the world's most successful compact cars withannual sales of 361,000 units.

Volkswagen has maintained about one-third of the market share in China and will work aggressively to maintain its lead amidst the flurry of new manufacturers entering the market.

Over the past years, Toyota, Nissan, Mitsubishi, Hyundai and BMW have all announced plans to manufacture in China, joining the ranks of VW, General Motors, PSA Peugeot Citroen and DaimlerChrysler.

To keep pace, VW plans to manufacture another sedan model -- the Polo Notchback -- at its Shanghai plant this year and plans tocontinue introducing new models every year.

Established in 1985, VW's Shanghai joint venture plant makes a dozen models of Santana, Santana2000, Passat, Polo and Gol.

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