| Europe's largest automaker and producer of | | | | model for the Passat brand. |
| top-of-the-line VW Golf parts, , Volkswagen has | | | | In a statement released by Volkswagen, the |
| recently reported that they have obtained an | | | | automaker said, "It's the first time for the |
| increase in the second-quarter profit by 16 | | | | venture to take a role in the development work |
| percent attributed to new models from brands | | | | of a car sold to the international markets." |
| Skoda and Audi. | | | | It also added that the new car which is scheduled |
| Bloomberg News has conducted a survey that is | | | | to be launched as early as 2009 will be produced |
| participated by 11 analysts who has given their | | | | primarily for both North America and China |
| media estimate resulting to Volkswagen's net | | | | markets. Shanghai Volkswagen is a 50/50 joint |
| income increased that reached 1 billion euros or | | | | venture between Europe's largest automaker, |
| $1.38 billion from the previously obtained 859 | | | | Volkswagen and China's largest automaker, the |
| million euros net income last year. | | | | Shanghai Automotive Industry Corporation. |
| Banks were also made to participate in the | | | | And earlier this week, the Japanese automaker |
| survey namely Bankhauz Metzler, M.M. Warburg, | | | | Honda Motor Co. has also boosted its China |
| JPMorgan, Societe Generale, Morgan Stanley, UBS, | | | | presence. The Guangzhou Honda Automobile Co. |
| UNicredit, Bankhaus Lampe, DZ Bank, ABN Amro | | | | Ltd, in which Honda has a 50/50 joint venture |
| and EXane BNP Paribas. | | | | with Guangzhou Automobile Group has developed |
| Volkswagen to Develop a New Car in China in a | | | | a wholly-owned research and development unit in |
| Joint Venture with Shanghai Volkswagen | | | | China as preparation for the development of the |
| In other news, Volkswagen has recently signed a | | | | China-specific Guangzhou Honda brand. |
| contract with one of its China joint ventures, the | | | | The total investment in Guangzhou Honda's |
| Shanghai Volkswagen. The agreement is will | | | | research and development unit is around 2 bln |
| create a joint venture aimed for the production | | | | yuan that is according to Honda. |
| of a new car that would become the replacement | | | | |