CHINA: CHINESE VW CAR SALES RISE 70%.(FAW-Volkswagen's sales vs 2001)(Brief Article)

IPR Strategic Business Information Database, December, 2002

FAW-Volkswagen, a joint venture between Volkswagen and China's First auto Works (FAW), announced its sedan sales grew 70 percent year-on-year by mid-December in China. According to company release, the FAW-Volkswagen venture captured 18.2 percent of China's car market share, up 1.2 percentage points, realizing the world's fastest growing car market.

Senior Volkswagen executives said earlier in December that annual production at the FAW-Volkswagen plant would be raised to 300,000 by the end of 2003 and sales in China to double to one million in 2007.