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Volkswagen China quarterly sales top 200,000 vehicles for first time

BEIJING – The Volkswagen Group said on April 6 that it sold 202,626 vehicles in China (including Hong Kong and Macau) in the first three months of 2007, up 23 percent on the same period last year.
 
This is the first time that the group’s quarterly China sales have exceeded 200,000 units.
 
The figures included 178,070 Volkswagen brand vehicles (1,483 of which were imported) and 24,342 Audi models (1,749 imported), enabling the group to maintain its 20-year lead in the passenger car sector in China.
 
Volkswagen said its China financial results in the first quarter were an improvement on a year earlier and in line with its expectations.
 
“The current momentum of our Olympic Program restructuring strategy and the new models that we are going to introduce this year will help maintain growth in our sales and profitability,” said Winfried Vahland, president and CEO of Volkswagen Group China.
 
Last year the group recovered its losses thanks to brisk sales and cost-cutting efforts after losing money in the previous two years. With the Olympic Program the group also plans to cut costs in China by 40 percent by 2008 in comparison with 2005.
 
Volkswage’s venture with SAIC, Shanghai-Volkswagen, will launch the Škoda Octavia in May. The German carmaker will also introduce its new Chinese flagship, the Magotan medium luxury sedan, with its FAW partner later this year. These two models are part of Volkswage’s plan to begin production of 12 to 14 new models in China between 2005 and 2009.

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