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VW's Goal: To Overtake Toyota By 2018


Topics:  Volkswagen

VW's Goal: To Overtake Toyota By 2018

Anthony Fontanelle
November 24, 2007

Volkswagen AG, the largest European automaker, aims to overtake Toyota Motor Corp. as the biggest worldwide in 2018. The goal can be achieved by selling 11million vehicles.

Japan’s Toyota gained the position as leading global car maker this year, beating perennial number one General Motors Corp. of the United States with sales of more than eight million vehicles.

According Capital, a German magazine, VW expects to reach its goal primarily through increased sales of VW brand cars, which it hopes to boost from 3.6 million to 6.5 million in 10 years, said the report, which is to hit newsstands on Thursday.

Capital quoted what it said was a confidential VW document, "Strategy 2018", that was reportedly approved by the VW supervisory board last week when the company announced a 10-year investment plan worth €28.9-billion.

The Wolfsburg-based automaker sold 5.7 million cars and lorries in 2006. Capital quoted what it said was a confidential VW document titled "Strategy 2018" that was reportedly approved by the VW supervisory board last week, when the company announced a 10-year investment plan worth 28.9 billion euros (42.9 billion dollars).

The magazine said added the manufacturer of VW ignition coil planned to revamp a broad range of cars while also slashing costs.

VW declined to comment on the report and told AFP its plan would be presented to company directors in December.

VW, which owns the Audi, Skoda and Seat brands, is currently the fourth biggest automaker after Toyota, GM and Ford, respectively.

At its home base, the German automaker entertained a number of personnel changes when Martin Winterkorm was named the eight postwar CEO. Other changes were also taken by its Auburn Hills-headquartered counterpart. The changes were made in an effort to boost American sales while reviving operations to profitability in the United States.

Recently, it was announced that Volkswagen of America will be relocated from Auburn Hills, Michigan to Herndon, Virginia, situated in the Washington DC metropolitan area.

To augment its global presence, the automaker launched the Passat and Touareg with TDi engine to India's auto last September.

VW has already etched a remarkable name in the manufacture of small diesel engines. The automaker has partnered with Mercedes-Benz and other companies to produce the BlueTec clean diesel technology. What’s more, the automaker has offered a bunch of product lines that features Turbo Direct Injection (TDI) engine.

Based on the United States Environmental Protection Agency data, four of the ten most fuel efficient vehicles available for sale in the U.S. in 2004 were powered by VW diesel engines. There was a three-way tie for eighth - TDI Beetle, TDI Golf, TDI Jetta. On the ninth place was the TDI Jetta wagon. In addition, all Volkswagen TDI diesel engines manufactured since 1996 can be driven on 100 percent biodiesel fuel.

Meanwhile, for the 2007 model year, stringent U.S. government emissions regulations have forced VW to drop most diesels from their American engine lineup. However, a new lineup of diesel engines compatible to U.S. standards will be due next year.

Source:  Amazines.com

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