GM Is Being Lapped by Volkswagen in the Biggest Auto Market
GM (NYSE:GM) is witnessing the changing of the guard in many aspects of its business. Mary Barra, the automaker’s CEO-in-waiting, will succeed Dan Akerson in 2o14, while the U.S. Government no longer holds shares of GM stock. In China, the world’s largest automobile market, GM will have a new president take over while watching Volkswagen (VLKAY.PK) likely become the sales leader among foreign automakers after GM’s eight-year reign, Bloomberg reports.
The race to 3 million
Looking at the sales figures for both Volkwagen and GM in China, there isn’t much room for complaint on either end. Both crossed the stunning mark of three million automobile sales by mid-December, but VW’s many brands managed to put the German automaker in position to lead the pack in the world’s biggest auto market.
Bloomberg analysts expect Volkswagen to hold that lead through the final days calculated into 2013 sales figures, which in some cases could be two days into January 2014. Though small VW cars have been selling at an impressive rate around the globe, the automaker’s officials saw plenty of room for improvement, starting with vehicle capacity.