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VW Aims to Capture 5% of U.S. Market in 10 Years
Volkswagen AG, which currently accounts of 2% of the U.S. car market, hopes that new products and a fresh promotional approach will help its VW brand reach 5% a decade from now.
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Volkswagen AG, which currently accounts of 2% of the U.S. car market, hopes that new products and a fresh promotional approach will help its VW brand reach 5% a decade from now.
Herbert Diess, who currently heads the VW brand worldwide, tell reporters the company aims to move into the heart of the American market with U.S.-specific products, including more SUV/crossovers, and a marketing plan that will tout the VW “brand experience.”
VW’s reached its greatest market penetration in the U.S., 5%, in 1968 and 1970, notes Automotive News. But the company hasn’t been above 3% since 2012.
Achieving 5% penetration will require annual sales of about 800,000 VW-brand vehicles. That’s the same target that in 2011 then-CEO Martin Winterkorn hoped to reach this year.
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