Volkswagen focuses on expanding sales
Source: Agencies |
June 4, 2012, Monday
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Print Edition
Print Edition
GERMAN carmaker Volkswagen moved on Saturday to strengthen its strategic focus to expanding sales in China, while reshuffling the leadership of its truck business.
Volkswagen AG's supervisory board approved the creation of a new position on its board of directors managing all business related to China. Europe's biggest carmaker - which includes Volkswagen, Audi, Lamborghini, Porsche, Skoda and Bentley - said in a statement the move "reflects China's importance as the world's largest car market."
The company sold 2.3 million cars in China last year, resulting in a 2.6 billion-euro operating profit. "We want to further increase our pace there," said Volkswagen group chief executive Martin Winterkorn.
Amid mostly flat sales in Europe, German carmakers have become increasingly dependent on Chinese demand. China is Volkswagen's single largest market, and an important growth driver. It is the third-largest market for Daimler AG and its Mercedes Benz cars, while for BMW AG, the Munich-based maker of luxury cars and SUVs, deliveries in China recently overtook those in the US.
Volkswagen said after Saturday's board meeting that its new China department will be run by Jochem Heizmann, who leaves his position as the head of the group's truck business.
Heizmann will be succeeded by the chief executive of Sweden-based truck manufacturer Scania AB, Leif Ostling.
Volkswagen only recently took majority stakes in Scania and Germany's MAN.
Volkswagen AG's supervisory board approved the creation of a new position on its board of directors managing all business related to China. Europe's biggest carmaker - which includes Volkswagen, Audi, Lamborghini, Porsche, Skoda and Bentley - said in a statement the move "reflects China's importance as the world's largest car market."
The company sold 2.3 million cars in China last year, resulting in a 2.6 billion-euro operating profit. "We want to further increase our pace there," said Volkswagen group chief executive Martin Winterkorn.
Amid mostly flat sales in Europe, German carmakers have become increasingly dependent on Chinese demand. China is Volkswagen's single largest market, and an important growth driver. It is the third-largest market for Daimler AG and its Mercedes Benz cars, while for BMW AG, the Munich-based maker of luxury cars and SUVs, deliveries in China recently overtook those in the US.
Volkswagen said after Saturday's board meeting that its new China department will be run by Jochem Heizmann, who leaves his position as the head of the group's truck business.
Heizmann will be succeeded by the chief executive of Sweden-based truck manufacturer Scania AB, Leif Ostling.
Volkswagen only recently took majority stakes in Scania and Germany's MAN.
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