VW earns big bucks from China
( 2003-11-20 15:09) (Shanghai Daily)
The Chinese market is playing a more important role in the Volkswagen Group's
global business, with the sales covering the main part of VW's total sales
worldwide from January to September this year, the Shanghai Morning Post
reported today.
The Germany-based Volkswagen Group, one of the world's leading car
manufacturers, reported sales decline of 1.2 percent in the first three quarters
of the year from the same period last year. However, 490,279 million cars were
sold on the Chinese market during the time period, increasing by 32.9 percent
from the previous year.
The VW sold 570,000 cars in the Asia Pacific region from January to September
this year, up 26.8 percent from a year before, with the sales in China
contributing the main part to the sales growth.
The Chinese market has become VW's main growth steam in the first half of
this year, where more than 80 percent of VW's business revenues come from, said
an analyst with the Goldman Sachs & Co.
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