Volkswagen to spend $102 million on
By Ally From :
As a premium sponsor for Beijing
Olympic Games 2008, Volkswagen Group announced a total
investment of 102 million dollars for the event, including 20
million dollars allocated for vehicle sponsorship.
During the Olympics, Volkswagen will
provide over 5,000 vehicles for athletes, guests and Olympics
staffs, the company announced.
Volkswagen's total sales rose 51
percent Year-on-Year in July, well ahead of the market average.
In the first seven months, Shanghai VW sold 261,631 vehicles, up
37.9 percent and FAW VW sold 259, 538 vehicles, up 45.3 percent
year-on-year, according to a Morgan Stanley report.
Auto magazine said Volkswagen will
double its annual output capacity from 800,000 units to 1.20
million and its total investment in China will reach 6 billion
euros in the next five years.
August 28, 2007