Report: Volkswagen launching 60 new or updated models by 2018

Volkswagen CEO Martin Winterkorn has revealed plans of the company to launch as many as 60 new or updated models with a view to become the world’s largest automaker by the year 2018.

Martin declined to give further details but mentioned that irrespective of whether the company is facing an upturn or a downturn, the goal is to ensure that the Volkswagen group reaches the top of the automotive industry.

He also said that Volkswagen is committed to their previously announced targets for the year 2013 inspite of the challenging conditions and intense competition from other car makers around the world. And we have to say that so far the company appears to be on track with the first quarter March 2013 sales increasing by 5.1 percent to 2.4 million units. However the concern for the company is the decrease in the operating profit by almost a billion euros from a year ago.

In the mid-term, Volkswagen will try to distance itself from declining European sales by opening around 1,500 dealerships in growth markets where the sales could be expected to increase. The company has hopes that this, along with a revamped product lineup, will help them to overtake General Motors and Toyota by the year 2018.