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VW to scrap models and focus on premium market

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German carmaker Volkswagen will axe many combustion engine models by the end of the decade and sell fewer cars overall to concentrate on producing more profitable premium vehicles, its finance chief said today.

"We are on quality and on margins, rather than on volume and market share."

Antlitz said VW would reduce its range of petrol and diesel cars, consisting of at least 100 models spread across several brands, by 60% in Europe over the next eight years. The paper said VW's new strategy was a sign of profound changes in the auto sector, which has attempted for decades to increase profits by selling more cars each year, even if that required heavy discounting.

Former VW chief executive Martin Winterkorn, who resigned in the wake of a diesel emissions scandal, had made it his goal to beat Toyota and General Motors to the title of"volume number one" by 2018.

 

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The same path GM and Chrysler went by going with big SUVs and pickup trucks. It is a path to oblivion.

rtenews So much for the people's cars then!

rtenews They need to change their name from Volkswagan 'peoples car'... Maybe 'Richer peoples car'...

rtenews Shite cars

rtenews 8 years?

Less cars , more profit means only one thing.

rtenews No more Golfs. GAA lads in bits

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