VW CEO, Martin Winterkorn has announced that Europe’s largest automaker is going to reduce the price gap between its vehicles and Toyota’s vehicles. Certain costly items that consumers do not want will also be eliminated from the vehicles.
Winterkorn stated, “We have definitely added too many technical items that [American] customers don’t want to pay for.”
The automaker feels that by aligning their vehicles more for American tastes they can lower theie prices. Currently the Jetta at $17,000 starts about $2,000 more than a Toyota Corolla.
Full Story: Wall Street Journal