Report – VW AG CEO to set new growth plan image

According to a report in Germany’s Manager Magazin, Volkswagen’s CEO Martin Winterkorn is set to elaborate on a new future growth strategy named “Future Tracks”, to be unveiled by 2014’s end.

As Winterkorn acknowledged during this March’s annual shareholders meeting, the company could in 2014 already reach its goal of surpassing global sales of 10 million vehicles – four years earlier.

Also, the old strategy plan – set for 2018 – has, besides the sales goal, the target for Volkswagen AG to become the worldwide top player, surpassing Japan’s Toyota.

“Now it’s time for the next step,” said Winterkorn. “We will focus even more strongly on our customers and their future needs.”

The CEO said the new plan would announce new profitability and sales targets, as it’s set as a roadmap for the 2018 to 2025 years. Among the top priorities we could find connected cars, China, and increased fuel efficiency and annual production.

After the group sold 9.72 million vehicles in 2013 and became the second largest global automaker, the current business goals say an 8% operating profit should be achieved by 2018 – as last year the company had it at 6% and it’s forecasting for 2014 to reach 7%.

Via Automotive News Europe