11/16/2011 - Volkswagen primed to become worldwide leader in car sales
Due to considerable gains in many world markets, Volkswagen is on target to become the auto industry's biggest carmaker before the year is over, Bloomberg reports.
Should Volkswagen become the worldwide leader in car sales, the German automaker would overtake Toyota, according to the news source.
In 2010, Bloomberg reports company sales for Volkswagen were the third highest among all auto manufacturers. But based on sales projections from three analysts interviewed by the news source, the German company's sales will likely rise 13% to 8.1 million vehicles sold worldwide.
Jenny Gu, senior markets analyst for J.D. Power and Associates, said Volkswagen adopted a sales strategy that's worked for them.
"Emerging markets are at a stage of car-adoption by consumers and there is still a large space for sales to grow," said Gu. "VW realized this and put a lot of effort on emerging markets."