|Published : 17 Mar 2017, 17:31:11 | Updated : 17 Mar 2017, 17:33:22|
Volkswagen auto sales rise in 2016 in China
Volkswagen, the world's largest automaker, posted rising auto sales in China in 2016 compared with a year earlier, and demand for its luxury cars remained strong, according to a press release.
Total auto sales, including vehicles made by the Volkswagen's two joint ventures with SAIC Motor and China FAW Group and those imported to China, stood at 3.98 million units in 2016.
The year to year growth stood 12.2 per cent.
The operating profit of VW's two joint ventures in China hit 5.0 billion euros (5.36 billion US dollars) in 2016, the report said.
Sales of Volkswagen models rose 14 per cent in China to 3.0 million units in 2016. Audi sales rose 3.6 per cent to 591,600 units. Skoda sales increased 12.6 per cent to 317,100 units.
Meanwhile, luxury cars continued to post strong growth. Porsche sales went up 12.5 per cent to 65,200 units during the same period.
"China's auto sales growth in 2016 has exceeded our expectation and long-term plan," said Jochem Heizmann, CEO of Volkswagen China.
VW aims to sell 400,000 units of new energy vehicles in China in 2020 and offer 1.5 million such cars to Chinese consumers in 2025.
The auto sales of VW vehicles hit a record high of 10.3 million units in the global markets in 2016. The group had 120 factories and more than 610,000 employees worldwide by 2016.