VW predicts car boom in Asia Pacific

BONN: The Asia-Pacific region will catch up with North America in terms of car sales by the turn of the century, according to Germany's largest car-maker, Volkswagen.

VW also says the Asia-Pacific region will replace North America as the world's biggest car market by the year 2005.

Betting on a big boom in Asia, Volkswagen upgraded its Singapore office today to a regional business headquarters with an eye to expand its market position and intensify its services in the region, the company said.

According to a press release issued by Volkswagen on Tuesday, the company expects the Asian car market to expand by two million cars over the next five years to 10 million, a figure comparable to car sales in North America.

By 2005, Volkswagen believes the Asian-Pacific region will become the world's largest car market.

To make full use of the upcoming market opportunities, Volkswagen plans to use Singapore as a base to manage and co- ordinate sales, marketing and service activities of the company's five brands -- Volkswagen, Audi, Seat, Skoda, and VW Light Commercials -- in the region.