Audi to sell more cars in China than Germany by 2013

Audi expects to sell more cars in China than in its home market of Germany within four years, the Wall Street Journal reported. Peter Schwarzenbauer, Audi’s executive board member responsible for sales and marketing, said the carmaker was already just 12,000 units off reaching its full-year sales target for China of 130,000 vehicles. He said that annual sales in China might reach 250,000 – more than Audi sells in Germany – by 2012 or 2013. Audi is currently preparing to launch several new or revamped models in China as well as expanding its local production and dealership operations. It is also keen to set up a larger leasing and financing business. Although Audi, which is owned by Volkswagen, ranks third in terms global luxury car sales after BMW and Mercedes-Benz, it remains the market leader in China. Schwarzenbauer said China’s premium car segment is likely to grow its market share to 8% by 2015, up from 5% now, with annual sales reaching 12-14 million units.