Volkswagen boss Martin Winterkorn thinks the company will surpass its goal to sell 10 million cars in a year by 2018.
Rapid growth at the company has the executive convinced that the target is closer at hand than previously projected. That growth has been fueled by Winterkorn’s strategy to look outside Europe for sales, instead turning Asia Pacific into its top sales region.
Plans to expand in the area will continue as the company moves to build 10 new plants in the coming years, seven of which will be in China. Winterkorn announced his expansion goal in 2007 and sales have grown by almost 50 percent since then.
China production will increase by 60 percent to four million units by 2018, further emphasizing the area’s importance to the automaker.
While sales are strong in China, growth is slowing and that could present an obstacle. Similarly, Volkswagen’s goal to sell one million vehicles annually in the U.S. could prove to be too ambitious. Last year, the company sold 438,133 VW vehicles and 139,310 under the Audi badge. While those numbers are strong, they’re still a long way from the million-vehicle mark.
[Source: Automotive News]
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