CEO Martin Winterkorn Says VW Open to Further Acquisitions image

VW CEO Martin Winterkorn said that the automaker is open to further acquisitions.

“We are currently well positioned with 12 brands, but there are always opportunities that one cannot pass up,” Winterkorn said. “We have no further projects in the drawer, but we’re always wide awake to what’s happening in the world.”

In 2012, VW, Europe’s largest automaker, increased its stable of brands to 12, after it acquired Italian motorcycle maker Ducati though its Audi brand and completing a long-waited acquisition of sports-car producer Porsche. VW Chairman Ferdinand Piech also expressed his interest for Fiat’s Alfa Romeo although the Italian automaker reiterated that the brand is not for sale.

Although VW posted record sales for 2012, the company prepares for more uncertainties and tougher competition in China and the US, where it plans to boost growth. The automaker’s 2012 sales increased 11% to 9.07 million units, boosting annual deliveries with 44% since 2009. The German automaker plans to double its lineup of SUV models in order to maintain growth.

“Many markets are losing momentum,” Winterkorn said at an event in Detroit. “If the European markets are getting weaker, we need to expand abroad.”