Volkswagen impresses in Chinese market auto sales
German auto giant Volkswagen has made decent progress in the growing Chinese auto market and has achieved their best performance till date. The company revealed on Tuesday that they sold around 53,000 cars in China in September. This is their best performance in the last 12 months and shows an improvement of around 20 per cent from August.
This growth rate is really impressive considering the Chinese market is growing at a relatively much slower growth rate of around 10%. Winfried Vahland, president and CEO of Volkswagen Group China said in a statement to the China Daily media group: “With an estimated increase in the market share from 17 per cent in August to 19 per cent in September, the Volkswagen Group further strengthened its position as a market leader in China’s automobile industry.â€
With this performance, the company has sold around 407,570 units in the first nine months of the year. They are hoping for an improvement in the next three months and expect the second half of the year to beat the first half-year achievement of around 265,000 cars sold in the market. They are already the market leaders in the market and work in collaboration with China’s top two carmakers – Shanghai Automotive Industry Corp (SAIC) and First Automotive Works Corp.
However, Volkswagen is facing growing competition from global brands like General Motors (GM), Honda, and Hyundai that are actively increasing their presence in the country. Their market share in the market has already dwindled from 30.8 per cent in 2003 to 25.2 percent last year.