The Volkswagen group is looking to sell in excess of 10 million vehicles in 2014. They aim to surpass last year’s 9.73 million recorded deliveries that came as a direct result of increasing China sales.
Company CEO, Martin Winterkorn said that, “With rising volume and new models, we will increasingly see positive earnings effects as well. The chances are good that we’ll even exceed the mark of 10 million deliveries this year.”
This also had a positive effect on their stocks that have gone up 4.5 percent since October 30, 2013.
Further driving the growth in the future will be an onslaught of 100 new models that will be spread out across the group’s multiple brands. “They are really covering the different consumer needs, and you have to keep in mind that we are living in a world where the consumer needs are really diversified,” said Klaus Paur, head of the automotive department at market-research company Ipsos, quoted by Bloomberg.
At the highest level, executives are looking to spend as much as €84.2- ($117-) billion to put the grand scheme in motion – they plan to burn through it by the year 2018, though it also plans to maximize cost-cutting by extending the use of modular platforms in a wider variation of vehicle types.
By Andrei Nedelea
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