Home> Business» Published : 08 October, 2008 07:36:00

Volkswagen now the world's top carmaker

Tuesday 7th October, 2008  

Volkswagen is now in the top spot as the world’s largest carmaker by market capitalization, taking over from Toyota.

Volkswagen’s shares surged as much as 55 per cent for a short time on Tuesday to extend recent strong gains.

The rise has come amid difficult times for carmakers, who ...

...facing weakening demand and the need to supply expensive infrastructure to produce environmentally friendly products.

Porsche, the German sports carmaker, owns 35 per cent of VW and intends to raise that to more than 50 per cent by the end of next month.

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