Volkswagen to Expand Car Loans Business in China

Things just keep happening in China. If it’s not Wal-Mart unionizing, it’s Volkswagen aggressively expanding its business coverage in the emerging economic powerhouse.

According to the People’s Daily Online, Volkswagen intends to provide loans to car buyers in 25 Chinese cities by the end of this year, up from 12 in July.

Volkswagen can expect some competition. Many other car manufacturers are looking to China to expand their market share. General Motors (GM), Ford, DaimlerChrysler, Toyota and PSA Peugeot Citroen all want to cash in on the lucrative and potentially huge business in the world's No 2 vehicle market.

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