Shanghai Volkswagen ranks 1st in Feb sales

Mar. 11, 2009 (China Knowledge) - Shanghai Volkswagen Automotive Co Ltd (Shanghai VW), a 50-50 joint venture between Volkswagen and the Shanghai Automotive Industry Corp (SAIC), sold 42,899 vehicles in February, becoming the No.1 automaker in the domestic market, the First Financial Daily reported on Tuesday.

The report said that Shanghai VW exceeded FAW-Volkswagen Automotive Co (FAW-VW) in sales last month.

Shanghai VW sold more than 8,000 Polo cars, up 90% month on month, and it also sold over 5,000 Santana cars, up 32.5% from the previous month.

An executive of Shanghai VW contributed the robust growth to the government's stimulus measures, which includes tax cut on vehicle purchases.

In the meantime, BYD Co Ltd<1211>, China's largest rechargeable batteries maker as well as automobile producer, surpassed Chery Automobile Co Ltd for the first time in February, becoming the top automaker of self-owned brand, according to the report.