VW Sales Surge As It Pushes For Spot As World Top Car Company

Cars and Drivers

Published: June 11, 2010 6:40 am

Last Updated: June 11, 2010 6:57 am

VW wants to be the world’s No.1 car company, and may reach that goal through its merger with Porsche. The top spot has changed hands in the last two years moving from troubled GM to troubled Toyota Motor (NYSE: TM). Toyota’s sales may be further undermined by its massive recall problems.

VW sales increased sharply last month, especially in China, now the world’s largest car market. Some forecasts put total Chinese vehicle sales this year as high as 16 million units.In the month of May, the VW sold 604,200 vehicles up 8.6%. VW sold 2.94 million vehicles in the first five months of the year 2010, up 18.1% versus a year ago.

In China, Volkswagen’s largest market, the firm delivered 777,800 vehicles during from January to May up 48.2%. Most months VW and GM vie for the top spot in the People’s Republic.

VW”s Achilles Heel is the US where the company’s presence is tiny. VW sold less than 20,000 cars a month in American between January and May.

VW will rue the day that it did not move to take control of Chrysler and left the prize for Fiat. Most industry experts believed that the No.3. US car firm could not be turned around, but it is now making money. And it has 8% of the American market, a position VW cannot build on its own.

Douglas A. McIntyre

The Average American Has No Idea How Much Money You Can Make Today ^(Sponsor)

The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.

But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.

Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

¹https://www.fdic.gov/national-rates-and-rate-caps