Shanghai Car Manufacturers Eye Overseas MarketThree major local automotive manufacturers set up a joint venture sales company Tuesday.The Shanghai Volkswagen Sales Co. Ltd. was jointly set up by the Shanghai Automotive Industry (Group) Co., the Shanghai Volkswagen Investment Co. Ltd. the and Shanghai Volkswagen Co. Ltd. With a total investment of US$29.98 million, the sales company will utilize the global sales network of Volkswagen to sell Passat cars manufactured in Shanghai. The sales company will use the expertise and experience of Volkswagen to set up the most advanced sales and service network in China. The sales company will sell only automobiles made by Shanghai Volkswagen Co. Ltd. as well as spare parts and components. It will also provide after-sale service for Volkswagen vehicles in China. Shanghai Volkswagen Co. Ltd. owns 30 percent of the sales company. |
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