VW, Toyota Eye 25% Of China '09 PV Market

Shanghai, March 24, 2009: (Gasgoo.com) Volkswagen Group and Toyota Motor Corp together plan to sell 1.7 million passenger vehicles in China in 2009, accounting for one fourth of the 6.5 million passenger cars estimated to sell in the Chinese market this year, the Beijing Morning Post reports.

Volkswagen AG said its two Chinese ventures -- FAW-Volkswagen Automobile Co. and Shanghai Volkswagen Automotive Co. -- will produce at least 10 new models in the 2009-2010 periods to help it achieve sales target of 1.06 million units planned for 2009.

FAW-Volkswagen expects sales to grow 10 percent in 2009 to 564,300 units, and Shanghai Volkswagon has set its China sales target for 2009 at 495,000 units, representing a moderate 1 percent increase from 2008.

Toyota Motor aims to sell at least 700,000 vehicles in China in 2009, an increase of 20% from last year.

Joint venture FAW Toyota Motor Ltd plans to raise its car sales in China by 8% to 380,000 units this year, and Guangzhou Toyota, Toyota's JV with Guangzhou Automobile, aims to sell 200,000 vehicles in 2009. Imported Lexus is targeting a sales growth of 5 percent in China this year.

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