When Volkswagen AG set out five years ago to become the world's No. 1 carmaker by 2018, the goal seemed ambitious. Toyota Motor Corp. was just closing in on General Motors, the industry leader for more than 70 years.
Particularly in the U.S., where VW was trailing Asian import brands, the German automaker known for its witty ads and pricey small cars appeared unlikely to surpass all its rivals.
Now, years ahead of even VW's expectations, Volkswagen has risen into the top ranks. By some measures, it will be the world's largest carmaker this year with projected sales of more than 8 million vehicles.
VW has ridden a sales boom in China and other emerging markets in recent years. It has grown through acquisitions. And it's expanding rapidly in the U.S. after investing heavily in a comeback bid.
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