Study: Volkswagen will overtake GM as world’s second largest automaker

According to market research by R.L. Polk Germany, Volkswagen will overtake General Motors as the world’s second largest automaker by volume in 2009. Polk says that global production of passenger cars and light commercial vehicles is expected to fall 19 percent, or by two million units, to 52.8 million units this year. That’s the lowest output since 1998.

While GM is expected to suffer a 31 percent drop in production, Volkswagen is likely to drop by just 15 percent.

“Volkswagen will therefore overtake … GM and advance to become the new number two after Toyota” Polk said in press release.

Polk said that output is likely to increase in 2010 with strong growth rates in the next years. A record level of more than 70 million units is expected by 2012.

– By: Omar Rana

Source: Reuters