SVW looks to break 1mn barrier

Encouraged by stronger-than-expected performance this year, Sino-German joint venture Shanghai Volkswagen Automobile Co expects its annual sales to hit one million cars over the next year or two.

"I believe our annual sales will reach one million units within two years at most according to our current momentum," said Zhang Hailiang, executive director for sales and marketing at the biggest passenger car producer in China, during an interview at the ongoing Guangzhou Auto Show.

The 50-50 joint venture between Volkswagen Group and SAIC Motor Co Ltd expects to move around 700,000 cars this year, up from 501,000 units in 2008, Zhang said.