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Audi Targets 1 Million Car Sales In China Within 3 Yrs; Lifts Outlook

Published Wednesday, 20th October 2010 05:08 pm - © 2010 Dow Jones

FRANKFURT -(Dow Jones)- German luxury car maker Audi AG (NSU.XE) Wednesday lifted its 2010 car sales outlook for China as demand continues to boom and said it plans to sell one million vehicles there within the next three years.

"Over the entire year, we will deliver well over 200,000 cars to customers in China," the head of Audi China, Dietmar Voggenreiter, said in a statement.

So far Audi only aimed to exceed the 200,000 car sales mark in China this year.

"We intend to reach the second million within the next three years," Voggenreiter said, referring to Audi's total Chinese sales volume of 1 million cars to date.

Audi is the best-selling premium brand in China thanks to an early market entry of its parent firm Volkswagen AG (VOW.XE). According to previous statements, China might overtake Germany as Audi's largest sales region this year.

Audi said it plans to expand its dealership network from 157 locations in 106 Chinese cities to over 400 dealerships by 2013.

-By Christoph Rauwald, Dow Jones Newswires; +49 69 29 725 512;

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