VW wants to dominate the automotive industry with its strong brands by 2018. To demonstrate their confidence in their products, VW AG put on a marvelous exhibit featuring their newest goods from all their brands. Martin Winterkorn, VW's board chairman, announced to the display’s attendees that VW’s brands will help VW meet their goal to become the world's largest automaker in 2018. With their new strategy, this German company desires to sell ten million vehicles yearly internationally.
Winterkorn believes VW’s strong brands will gain VW a top status. Winterkorn has high hopes for VW as he declared, “Volkswagen has sold 5 million vehicles globally so far this year and plans to introduce 70 new models globally in the upcoming year.”
Their multiple brand approach hopes to gain a sales increase by approximately 60 percent. This auto giant wants to be ahead of Toyota. Toyota's advantage over VW is their powerful position in the U.S. market. VW brands are not as well regarded as Toyota’s. VW’s new strategy will help it be a better competitor against other major automakers. For VW to rise above their underdog position, they need to increase their production in the U.S. I think the auto industry has to keep an eye out for VW. This auto maker has been doing well so far this year and has good management, making them tough competition.
Irene Kalis
Irene Kalis
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