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  • VW is going to become the largest car manufacturer in six years

    Nov 26, 2012, 10:24
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    In order to get ahead of General Motors, Volkswagen will increase funding of all its brands by 12% in the upcoming five years. These funds will be released by VW to manufacture new models and build plants outside Europe in order to become the largest car manufacturer in the world no later than in 2018.

    If the 2013-2017 financial plan will be approved, then VW expenses will be increased by 70% (up to 70 billion EUR) comparing to 62.4 billion EUR for the 2012-2016 period, being the all time high level of financing. According to VW representatives, most car companies cut down expenses because of the hard times on the European car market, but Volkswagen is ready to spend more in order to reach its goal. For example, such European rivals of VW as PSA and Fiat are forced to block the manufacturing of new models, development of engines and platforms currently and as a result, Volkswagen may consolidate its advance over them.

    VW's main goal is to get ahead of GM and to become the largest car manufacturer in the world no later than in 2018 and in order to achieve this goal company actively expands production. The car manufacturer based in Germany has sold 8.27 mln cars in 2011 all over the world as compared with GM's 9.05 mln and Toyota's 7.95 mln.

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