Audi to spend $17 billion over three years to outgrow BMW

In a bid to fight BMW, the largest luxury car maker in the world, Audi has decided to spend $17 billion (Rs 92,966 crores) globally…

Audi to spend $17 billion over three years to outgrow BMWIn a bid to fight BMW, the largest luxury car maker in the world, Audi has decided to spend $17 billion (Rs 92,966 crores) globally in becoming the No.1 brand. Volkswagen’s luxury car brand, Audi will be investing a sum of $17 billion over the next three years. This investment will be in the form of new vehicle launches, enhancement of facilities and in the introduction of new powertrains.

Currently the bestselling brand in all of Europe, Audi has a target in mind and that is to surpass BMW by the end of this decade. BMW currently targets 1.54 million sales by 2013. Audi is aiming for over two million car sales per year by 2020. Once accomplished, this will help the parent, VW Group in achieving their target of become global leader in car manufacturing by 2018. .

Audi announced on Thursday, that this earmarked investment of $17 billion will be spent through 2016 in the development of new cars and technology. Out of this, $14 billion will be allocated to modernization of the Audi portfolio while also to finance areas of lightweight design, construction and electric mobility. In India, Audi sales are on par with BMW numbers. Many expect Audi to overtake BMW as the largest car manufacturer in the country. Very soon we will know as today is the last day of 2012.

Source: AutoBlog