SHANGHAI — Shanghai Automotive Industry Corp., which is debuting its new China-made Passat, has secured a 45% share of the Chinese car market, ranking first in China's auto industry. The corporation says it generated RMB88.29 billion (US$10.63 billion) in sales revenue in 1999, with profits reaching RMB6.2 billion (US$746 million). The automaker, which has a joint venture with Volkswagen AG, Shanghai Volkswagen Automotive Industry Co. Ltd. (SVW), formally launched its Passat sedan at the ...
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