Volkswagen Group aims to sell eight million cars a year by 2011 — almost 30% more than last year — and a senior executive said today that it would make a decision on a US plant this summer.

Volkswagen is looking at building a new plant in the US that could produce between 100,000 and 150,000 cars per year and shield it from the effects of a weak dollar.
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Chief executive Martin Winterkorn announced the 2011 sales goal Thursday.

Volkswagen sold 6.2m cars in 2007 — helping to push up revenue almost 4% to EUR108.9bn from EUR104.8bn in 2006.

"We want to deliver eight million group vehicles to our customers by 2011," Winterkorn reportedly said at a news conference.

AP reported that he added the group will make a renewed effort to increase market share.

"We will be tailoring our vehicles precisely to regional customer requirements," he reportedly said.

He also said that Volkswagen hopes to reach 1 million cars sold in the US by 2018 compared to the 329,000 it sold in 2007.

The report added that board member Jochem Heizmann said Volkswagen's board would decide this summer whether to build a new production plant in the US, but did not say where it may be located or what models might be built there.

Once any decision is made, he said, it would take two to three years before production started.

Winterkorn also made it clear he was optimistic about the effects of Porsche Automobil Holding SE's plan to take a majority stake in his company.

The German daily Handelsblatt reported today that Piech and Wiedeking would sit on Audi's supervisory board from May. The newspaper said that Porsche's chief financial officer Holger Harter would also join the board.

Piech stepped down from Porsche's supervisory board's executive committee earlier this month.