Report – VW to refresh models faster image

The German automaker, the second largest in the world, plans to meet rising demand for faster adoption of technology in the cars by refreshing its models more often, mirroring technology giants such as Apple or Samsung.

Bloomberg has obtained internal company documentation that shows the carmaker’s strategy for the years to come. VW plans to speed up vehicle development, which can take anywhere in between four to eight years, by setting up a task force. The “special unit” would have 40 to 60 top managers and become active in the months to come.

“How can we shorten today’s model cycles and make them significantly more flexible?,” says VW CEO Martin Winterkorn. “Consumer electronics with ever-new technologies and products set the pace. To be able to afford this we need to create the economic basis now,” Winterkorn adds. “Without the appropriate financial basis any strategy will and must fail.”

The largest European automaker is looking to overcome Japan’s Toyota – the biggest automaker in the world – and its strategy relies on rising profit as much as increasing the sales. The company also plans to release 100 new or refreshed models through 2015 – as it builds its strategy to become the automotive industry leader by 2018.

Via Automotive News Europe