Thursday, October 22, 2009

Volkwagen: Brazil To Move Up as 2nd Largest Market, Ahead of Germany

Volkswagen announced today that it intends to continually invest in products and production capacity in the country and exect Brazil to move into its 2nd largest global market, ahead of Germany (and after China).

By 2014, Volkswagen wants to register in the country sales of 1 million vehicles, said the president of the subsidiary, Thomas Schmall. In 2008, it sold 640 thousand units of the brand. Between January and September 2009, the registrations of Volkswagen vehicles totaled 458,454 units, up 12% over the same period of 2008. In brief news conference, Schmall reinforced the intention to overcome Fiat in Brazil in number of cars and light commercial vehicles sold. Today, the German company has the lead in the first category and expects to fill the gap in light commercial vehicles in early 2010.

In November, Volkswagen will announce its investment plans in Brazil.

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