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European
automaker Volkswagen AG has rolled out its mid-ranged
Magotan sedan in China, aiming to boost its sales in
the world''s second-largest auto market.
Priced
at $25,500, the sedan has been made by Volkswagen''s
joint venture with Chinese vehicle maker FAW Group.
Foreign
automakers are increasingly relying on new models to
push sales in the hotly contested and fast-growing market,
where car sales jumped 22.26 percent to 3.08 million
units in the first six months of this year.
During
the period, the maker of Volkswagen and Audi brand cars
moved a record 431,369 vehicles in mainland China and
Hong Kong, up 24.6 percent from a year earlier.
Volkswagen''s
sales for the full year are estimated to grow by 20
percent, a senior company executive told Reuters in
April.
To maintain its
roughly 17 percent market share in the country, Volkswagen
plans to introduce at least a dozen new models by the
end of the decade.
General
Motors Corp. and other foreign auto makers are also
bringing their lastest models to the country to attract
buyers.
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