Volkswagen considering new entry-level brand for China
The Chinese government wants foreign automakers to build domestic brands in order to share technology and expertise with their partners while most automakers simply want to sink their teeth deeper into one of the quickest-growing markets on the planet. Volkswagen says that despite being leading automaker in China at the moment, it's still not effectively competing in 20 percent of the market. That segment is made up entirely of inexpensive vehicles.
Tapping those lower-rung car buyers could go a long way toward helping the automaker reach its goal of becoming the world's largest by 2018.
[Source: Automotive News]
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