VW, GM booming in China
31/1/2003 15:27
Volkswagen and General Motors enjoyed booming business last year with
511,000 and 264,100 sedans sold respectively, an increase of 43 percent and 325
percent respectively from a year before, eastday.com reported
today.
China has become VW's second largest market worldwide, next to
Germany, according to the Volkswagen Automotive (China) Investment
Ltd.
VW has built five joint ventures in China after entering the market
in 1985, and started selling imported cars here last year. It plans to
manufacture at least two new models in China this year, a new Polo with a
three-cylinder engine and the Gol.
Shanghai GM sold 110,700 sedans last
year and GM sold 2,801 imported sedans in the Chinese market, up 42 percent from
a year before.
Wendy Zhang/ Shanghai Daily news
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