Volkswagen has announced with renewed optimism, their plans to augment investment in terms of new factories, new vehicles and further development so as to be the world’s largest car maker. With an aim to replace Toyota Motor Corp as world’s number one automaker no later than 2018, VW is concentrating on finances required for these new strategies while keeping a tight hold on its short term costs. A 20 member team is being put together to formulate investment plans for the period 2013-17.
New investments to the tune of €70 billion are being channelized to development of VW’s 12 brands as against earlier allotment of €62.4 billion which was earmarked for the period 2012-16. Spending target was also enhanced by 20.9% to €62.4 billion from €51.6 billion for 2011-15. With these long term plans in place, the company is gearing to be a top leader consolidating their lead over Peugeot and Fiat who are now struggling during troubled times being experienced in European markets.
Volkswagen now strives to take over Toyota Motor Corp where world’s number one position is concerned. The company will be concentrating on markets outside of Europe for their expansion plans and setting up of new plants. Greater emphasis will be paid to emerging markets of China, Mexico and Russia where VW is planning to bring in new products and additional investment to cater to the growing needs of customers.