Last year, Audi AG, the second largest premium automaker in the world, initiated its largest investment spending in history in a bid to finally become the world’s biggest carmaker by the start of the next decade, outshining German rival BMW AG in the process.
The brand belongs to the Volkswagen Group, the second largest automaker in the world and the biggest in Europe, which in turn hopes the rising fortunes of the premium subsidiary, would help it achieve new profit levels and then go on and outperform Japan’s Toyota for the world No. 1 spot. Audi AG has pledged 24 billion euros for the next half decade for the introduction of new models, new lightweight architectures, alternative powertrains and improved connectivity technology. Audi’s chief executive officer Rupert Stadler is also very satisfied with the automaker’s rapidly expanding sport utility vehicle range of products. The automaker is set to reach 60 model variants by the start of the next decade, ten more than today, with the accent on SUVs – they will have from the bottom the new Q1 and at the top the upcoming Q8 flagship. The company is also appreciating the rising sales of the Sportback models, with the company probably on its way to deliver another new variant, besides the A5 and A7 versions.
Additionally, Stadler added that since their focus is today on sport utility vehicles they don’t need to add any compact minivans – BMW recently unveiled a duo of compact MPV offerings to combat Mercedes’ variants and spur additional growth. The company believes the upcoming Q1 would offer a higher conquest rate, as SUVs today typically outshine MPVs even in the compact segment.
Via Automotive News Europe