Volkswagen Inches Close To Toyota As Global Auto Leader

Riding on a rapid expansion drive in China, the world's biggest auto market, Volkswagen is inching close to Toyota as the global auto leader.
Toyota, maintaining the top spot for two consecutive years, announced relatively robust global sales growth of 3.8% for the first six months of the year to 5.097 million vehicles.

Volkswagen group sold 4.97 million vehicles in January-June – an increase of 5.9% from the same period last year – excluding figures from truck makers Scania and MAN that will be released on July 31.

Even if Toyota manages to retain its crown for the first half, its position looks less secure for the full year.

"China is the driving force of the global market, and the degree to which a company is focused on that region is linked to the global sales performance," said Yoshiaki Kawano, a Tokyo-based analyst at IHS Automotive.

Volkswagen, which sold 3.27 million vehicles in China last year, is considering to invest $24.4 billion between 2014 and 2018 in new plants and products in the country.