German Car Zone

FAW-Volkswagen to Launch Audi A8L in Dec.

GUANGZHOU, Nov 22, 2007 (SinoCast China Transportation Watch via COMTEX) FAW-Volkswagen Automobile Co., Ltd., the flagship joint venture between China FAW Group Corporation and German Auto giant Volkswagen AG, launched Audi A6L, a car model equipped with 2.8L FSI engine, at the 5th China (Guangzhou) International Automobile Exhibition.

The venture's Audi-branded cars showed a strong sales growth trend in 2007. Totally, more than 100,000 Audi-branded cars will be sold in the full year, according to a forecast.
82,868 such cars were sold in the first ten months of this year, including 6,433 imported cars. Of those imported cars, Audi A8 saw a 30 percent growth in sales.
Notably, China-made Audi A4 was still a major force in the domestic B-class car segment. The model reached sales of about 15,000 units during the period from January to October 2007, leaping 40 percent from the same period of a year earlier.
In addition, FAW-Volkswagen will this December launch Audi A8L sedans and introduce Audi R8 sports cars into China, the world's second-largest automotive market.
Formally established on February 6, 1991, FAW-Volkswagen has gradually enriched its product portfolio and grown into an automaker with a daily production capacity of more than 1,000 vehicles under the Jetta, Bora, Golf, Caddy, Sagitar, and Audi brands.
FAW-Volkswagen, which earlier focused on the northern Chinese segment, changed its marketing system from March 2006 and strived to expand its market share in South China.
The venture formed South China Strategic Business Unit (SBU) with the focus on Guangdong and latter set up Guangzhou Brand Experience Center (GEC) in December 2006.
FAW-Volkswagen launched the new Volkswagen Magotan in Beijing in July 2007. With a price range between CNY 192,800 and CNY 249,800, the launch of the car model will be likely to break the layout of the Chinese B-class car segment. Prices of six B- class car models, such as Accord, Mazda6, and Mondeo, had been cut earlier.
Automakers have been competing for the B-class segment due to the high profits and strong demand. Now, there are about 25 B-class car models in China, one of the world's most dynamic automotive markets.
The new Magotan will bring pressures to other B-class car models, forecasted the marketing general manager for FAW- Volkswagen. Experts pointed out that prices of B-class cars would be adjusted again due to the launch of Magotan. In particular, the competition among cars priced at CNY 150,000 to CNY 300,000 will be more furious in the future.
http://www.tradingmarkets.com/.site/news/Stock%20News/850098/

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