Banking News
- VW aims for sales of 1m vehicles in China
Date: 15-Oct-2007 Sources: (Shenzhen Daily)
GERMAN auto giant Volkswagen aims to sell more than a million vehicles in China next year, its head of Chinese operations said Friday.
The business daily Handelsblatt quoted Winfried Vahland as saying Europe's biggest automaker was also looking for manufacturing bases in the country. VW was not planning to take over a domestic producer however, but would either build a new factory or possibly buy an existing production site, Vahland said.
In the long term, VW aimed for a 20 percent share of the Chinese car market, from more than 18 percent currently, the paper reported.
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