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Volkswagen AG outsold General Motors (GM) in China for the first time in nine years to recapture the lead among foreign automobile makers in the world's largest car market.
VW's 2013 deliveries in the country surged 16 per cent to 3.27 million vehicles, the Wolfsburg, Germany-based manufacturer said on Saturday. Detroit-based GM announced earlier this week the US auto maker sold 3.16 million cars in the country.
Beating GM in China puts VW a step closer to its goal of becoming the world's largest car maker by 2018.
As the stakes escalate - both have announced combined investment plans totaling $36 billion in the country - they'll be facing mounting competition from the likes of Toyota and Hyundai when the government is cranking up scrutiny on vehicle sales to combat pollution.
"Volkswagen will probably continue to grow more dynamically in China than GM," said Frank Schwope, a Hanover, Germany-based analyst with NordLB who recommends buying VW shares.
