VW's executives have laid out an extensive plan to improve its sales in the US and to eventually surpass Toyota in terms of both sales and profitability.
VW's goal is to sell 800,000 vehicles in the US per year by 2018, which is three times as much as the automaker is selling now. To do so VW is planning on introducing several new models that will be designed specifically for the US market. This includes a new 7-seater SUV, sedan and an updated version of the Beetle.
In order to improve profits, VW is going to start building more models in the US or Mexico. VW is currently spending $1 billion on a new plant in Chattanooga, Tenn. that will produce a new midsize sedan in 2011. The new sedan will reportedly be larger than the current Passat, but will be priced competitively to go against the Accord and Camry.
"We want to be the No. 1 automaker globally," Stefan Jacoby, VW's North American chief said during a briefing at VW's U.S. headquarters in Virginia. "Not everybody believes in this goal. We believe in this vision we have, and we are working very hard on its realization.
VW plans to refresh its entire lineup by 2011. Additionally VW is making efforts to improve its quality.