Friday, March 16, 2018

Volkswagen Planning to Double US Market Share

By: Evan Williams
The head of Volkswagen is looking to more than double the company’s market share in the US in the next ten years.
Herbert Diess, VW brand chief told journalists about the new plan recently. He said that Volkswagen “intends to become a leading volume provider and aim for around 5 percent market share.”
Since VW’s market share was just two percent in the US last year, that’s a massive jump. Volkswagen has been able to hit five percent of the US market before, but just twice. 1968 and 1970. Back when the company’s biggest sellers were the Beetle, Microbus, and Type 3. Hitting that target in today’s new car market would take annual sales of around 800,000.
But Diess doesn’t expect five percent to come quickly. “It is possible and we believe we are able to achieve it,” Diess said. “We think we have a very solid product portfolio tailored for the U.S. We have a new marketing team that works hard on the brand experience and the brand. We believe that it’s possible — not in a short while, maybe in a 10-year plan.”
The company continues to tailor product to the US market, including the Atlas SUV and US-market Passat. Diess suggested that more models with high appeal to the US market are on the way, including a new small crossover that will be introduced first in China. The company is also planning to launch four EVs, starting with the I.D. Crozz in 2020.

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