VW Expects Tough Year, Sees Increase in the Second Half image

Although VW prepares for a tough year, it is still optimistic about sales in the second half of the year, due to increase in overseas markets.

“The coming months will be anything but easy,” CEO Martin Winterkorn said today at VW’s annual shareholders’ meeting.

Winterkorn added that except for China and North America, situation in the other market will remain highly uncertain and sales will be ‘extremely weak’. But despite all economic uncertainties VW keeps its 2013 target. For the first quarter VW reported a drop in operating profit to 2.34 billion euro, but it keeps its goal to reach last year’s record profit of 11.5 billion euro, as it plans to push deliveries and sales to new records.

“Regardless of whether we’re in an upturn or downturn, it’s our goal to ensure that VW reaches the top of the automotive industry by 2018,” Winterkorn said.

VW plans to offset the decline in Europe by introducing 60 new and refreshed models by the end of this year and expanding its dealership network in emerging markets, with 1,500 new dealerships in the medium term, besides the existing 20,000 dealers around the world.

Source: Automotive News Europe