Volkswagen to Become World's Biggest Carmaker This Year

      October 25, 2011 11:11

      Volkswagen will become the world's largest carmaker this year, taking advantage of Toyota's production setbacks following the earthquake and tsunami that hit Japan in March, the Financial Times of London reported on Sunday.

      Citing production volume by brand and sales projections compiled by market consultancies JD Power, IHS Automotive and PwC Autofacts, FT reported, "In 2008 when Martin Winterkorn, VW's chief executive, vowed to overtake Toyota by 2018, few took it seriously as VW sold about three million fewer cars than its Japanese rival." But VW has managed to speed up its goal by seven years thanks to the Japanese disaster.

      The daily added, "But since then VW has exploited its position as the top-selling carmaker in China, the world's biggest car market, and has even managed to increase sales by eight percent this year in a stagnating European market."

      JD Power projects Volkswagen's global sales to total 7.8 million vehicles this year, followed by GM with 7.2 million vehicles, Renault and Nissan with a combined 6.8 million vehicles and Toyota at 6.7 million cars.

      IHS Automotive projects Volkswagen will sell 7.76 million vehicles this year, followed by GM with 7.36 million, Toyota 7.22 with million and Renault and Nissan with 6.62 million in combined sales. Hyundai-Kia Automotive Group are forecast to sell 5.83 million vehicles to rank fifth.

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