German automaker Volkswagen AG's China unit launched its comeback model, the Sagitar, on April 9, saying it is confident it can arrest a decline in the company's market share by focusing on specific types of car buyers. The Sagitar is aimed at highly educated, fashion-conscious buyers in their mid-thirties seeking speed and excitement, said Weiming Soh, VW Group China's executive president for sales and marketing.

Jiangling Motors Corp. said over the weekend its net profit rose 28 percent last year from 2004 thanks to strong vehicle sales. Light truck and van maker Jiangling, in which Ford Motor Co. has a 30 percent stake, said its net profit rose to 495.4 million yuan (US$61.93 million) from 386.9 million yuan last year, based on Chinese accounting standards.  Jiangling's core revenue rose 8.8 percent year on year to 6.28 billion yuan from 5.77 billion yuan in 2004.

(For more biz stories, please visit Industry Updates)