Report – Audi boosts spending; will launch 11 new models in the coming years image

According to persons familiar with the matter, Audi will grow spending on new models, plants and technology in coming years as the luxury carmaker steps up efforts to catch larger competitor BMW.

The Volkswagen owned premium carmaker will also increase its product range from 49 to 60 models in the coming years as it looks to selling two million cars per year by 2020.

Speaking at an Audi event at the firm’s Ingolstadt HQ yesterday, boss Rupert Stadler wouldn’t confirm which models would help to expand the company’s portfolio, though he did make reference to the potential Audi sees in the SUV market, and the “prestigious full-size category.”

The product offensive would most likely start in 2016 with the launch of the Audi Q1. Other models should be the Renault Clio RS rival S1, and next generations for the Q7 SUV and TT coupe.

Audi also plans to spend more than 20 billion euros ($27.46 billion) on global operations through 2018, said the people on condition they not be identified because Audi’s spending plan won’t be published until December 27.

That equates to over 4 billion euros a year, compared with 2.6 billion in the carmaker’s budget of December 2011. Planned investments will sustain Audi’s foreign expansion as the carmaker sets up factories in Mexico and China and eyes production in Brazil. Audi plans next year for the first time to build more cars outside Germany than within the country.

Via Reuters, Autocar