A new product offensive will boost Volkswagen#;s North American sales by more than 50% over the next three to four years, the Financial Times (FT) said.
The newspaper quoted VW’s new management board chairman Bernd Pischetsrieder telling journalists in London that the group could achieve 750,000 US sales a year in the medium term.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The group sold almost 490,000 units in North America last year, 356,000 of them VWs, the FT added.
Pischetsrieder told the FT that the US growth would come mainly from the launch of the Touareg sports utility vehicle and an all-new minivan designed for the US market.
Volkswagen has the largest European presence in North America but still only sells 10% of output there, the FT said, adding that most cars VW sells there are made in Mexico.
The FT said that Pischetsrieder declined to reveal investment and product development for the sales boost but admitted that the strategy reflected VW’s falling dependence on its native German market.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataHalf the 100,000 Touaregs built a year would go to the US, Pischetsrieder told the FT.
