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October 17, 2007

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Volkswagen Group in China targeting 900,000 vehicles in 2007

Group reports record deliveries in first nine months with 684,786 units

Beijing - Volkswagen Group China (VGC) increases its sales target for the whole year 2007 to 900,000 vehicles. In the first nine months it achieved a new sales record together with its two joint ventures Shanghai Volkswagen and FAW-Volkswagen. Deliveries to customers in China mainland and Hong Kong grew by 30.2 percent to 684,786 (1-9 2006: 525,941) vehicles. Sales of the Volkswagen brand amounted to 594,270 (1-9 2006: 464,826, up 27.9 percent) including 6,322 imported vehicles. Audi delivered 76,168 vehicles to customers (1-9 2006: 60,467, up 25.9 percent) including 6,504 imported units. Skoda sold 14,094 (1-9 2006: 518) cars, including 208 imported vehicles.

"We are now targeting 900,000 vehicles in 2007. Volkswagen in China is ahead of its restructuring plan and in best condition for the challenges in the worldwide most competitive market," Prof. Dr. Martin Winterkorn, Chairman of the Board of Management of Volkswagen AG, said. Focussing on VGC’s restructuring program, Dr. Winfried Vahland, President & CEO Volkswagen Group China, added: "Besides the outstanding sales record with a new target of 900,000 vehicles in 2007 we also achieved to increase our profitability in the third quarter faster than in the already promising first half year."

The car output in the two joint ventures Shanghai Volkswagen and FAW-Volkswagen will be increased by several measures such as optimized work organisation and logistics.

Additional flexibility was achieved through higher productivity as outcome of VGC’s restructuring strategy "Olympic Program". To meet future demand, several options for investing in new capacity are currently being evaluated.

Growth with environmental approach As partner of the Olympic Games 2008 in Beijing, Volkswagen continues all its efforts to become the most environmental friendly car manufacturer in China.

VGC, Shanghai Volkswagen and Tongji University set up a second presentation fleet consisting of 1,000 TDI® Passat taxis in Shanghai. Results from a first test fleet in 2005 showed sound fuel savings and emission reduction between 20 and 30 percent through modern TDI® Diesel technology.

VGC’s commitment includes a reduction of more than 20 percent fuel consumption and emission of its fleet until 2010 by using modern technology such as most advanced TSI® engines, DSG® gearboxes. Both newly introduced models Volkswagen Magotan and Skoda Octavia are already equipped with these latest technologies. TDI® will add to this, if the market requires.

(11 October 2007)

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