Further proving that China is one of the world’s most up and coming new car markets, Volkswagen announced on Monday that China will likely take over Germany as the automaker’s biggest market.
VW was one of the first automaker’s to invest in the Chinese market, and that early gamble is really starting to pay off. VW currently holds a 19.1 percent market share in China and stands to gain even more in the coming years. VW expects to launch 12 to 14 new models in China over the next two years, compared to just 11 launches between 2005 and 2008.
Although sales have slowed a bit this year, VW’s Chinese sales are up 23.2 percent, totaling 531,614 vehicles, according to Automotive News. VW’s German sales currently total 534,390 units, but the German market’s growth of just 3.7 percent should allow China to eclipse Germany as VW’s number one market by year’s end.
VW expects the Chinese market to grow from 5.6 million units to 10.3 million over the next 10 years.
