Volkswagen exceeds 10-million unit sales target thanks to China demand image

For the first time ever, and four years earlier than originally forecasted, the second-largest automaker in the world, Volkswagen AG has managed to surpass the 10-million vehicles annual milestone.

According to the Wolfsburg, Germany-based manufacturer, the quota includes all of its sold vehicles across the brands – from VW to Porsche cars and MAN and Scania heavy trucks, with the group up 4.2 percent to 10.14 million units in 2014. Chief Executive Officer Martin Winterkorn added in the statement that VW is also “making good progress” on lifting overall profitability and reaching a higher customer satisfaction level. Volkswagen has focused on sales growth during recent years as part of its pledge to overcome Japan’s Toyota Motor Corp. as the global top carmaker by 2018. The latter will only report worldwide sales for 2014 later this month but the Germany-based group has already managed to close the gap to just 72,000 vehicles after the first three quarters of 2014 from 227,000 during the same period of 2013. The automaker owes its success to increasing demand from the world’s largest auto market – China – and surging deliveries of the Audi and Porsche brands.

China and Hong Kong took the lion’s shares of the VW AG sales in 2014, accounting for a record 3.67 million units – soaring 12.4% last year and securing the lead as the company’s largest single market. Audi’s worldwide sales climbed 11 percent to a record of 1.74 million vehicles in 2014 and the brand is presenting during the North American International Auto Show in Detroit the next generation of the large-size SUV Q7. Porsche’s deliveries also hit an all-time record of 189,850 autos, lifted by the recent introduction of the new Macan compact crossover.

Via Bloomberg