Volkswagen shoots past GM in China

|About: Volkswagen AG ADR (VLKAY)|By:, SA News Editor

Volkwagen (VLKAY) sold more cars in China than General Motors (GM) in 2013 to mark the first time in nine years it bested its rival, according to final tallies from the China Association of Automobile Manufacturers.

The automaker ended the year with sales of 3.19M vehicles for the year.

CAAM projects the auto market in China will grow 8% to 10% this year.