Audi's Q7 on display at the Shanghai International Auto Show in April.
The projection underscores a broader geographic shift among auto makers toward Asian growth markets.
“Today we’re at 118,000 car sales already. We’re on track to significantly surpass our initial target in China this year” of selling 130,000 cars, said Peter Schwarzenbauer, Audi’s executive board member responsible for sales and marketing, in an interview.
He said the Ingolstadt-based company will launch its A3 hatchback in China next year as part of a wider move to attract a broader customer base there, in addition to the new Q5 small sport-utility vehicle, which is being rolled out globally.
Audi ranks third in global luxury- car sales behind BMW AG and Daimler AG’s Mercedes-Benz. But it keeps a firm grip on the top position in China, which it gained thanks partly to the early market entry of its parent company, Volkswagen AG.
Mr. Schwarzenbauer said annual sales in China might soar to 250,000 cars by 2012 or 2013 as Audi is preparing to launch several new or revamped models, ramping up local production and expanding its dealership network.
He said Audi also plans to establish a broader leasing and financing business in China to tap rising customer demand. Most Chinese buyers tend to pay cash for their vehicles. read more at online.wsj.com…
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