GUANGZHOU SHOW: VW eyes 2m sales this year
Volkswagen is confident of selling over 2m cars in China this year and expects its growth to outpace the industry in coming years, Chinese unit president and CEO Karl-Thomas Neumann said.
Volkswagen expects China's car market to expand by 8-10 percent in coming years, with the company expecting to outpace that growth, executives told Reuters.
Volkswagen, which operates car manufacturing joint ventures with SAIC Motor and FAW Group, sold almost 1.9m vehicles from January to October, up 14.8% year on year.
It is also working to double its China annual capacity to 3million by 2015, executives said.
Both Volkswagen's China joint ventures have developed prototypes of electric cars, with test fleets expected to be out early next year, they said.