Audi to spend $14 billion on new cars in 5 years

Audi to spend $14 billion on new cars in 5 years

Volkswagen’s premium division Audi is aiming to increase its global sales to at least 1 million cars in 2008. The company hopes to spend about 10 billion euros ($14 billion) within the next five years on growing its model lineup.

“We want a breakthrough next year, selling at least 1 million vehicles,” Rupert Stadler told Reuters in an interview at the Tokyo Motor Show.

In the first nine months of 2007, Audi grew its global sales 8.3 percent for a total of 741,000 vehicles sold.

Audi recently launched the new Audi A4 at the Frankfurt Motor Show and unveiled the Audi Metroproject Quattro at the Tokyo Motor Show. The Audi Metroproject Quattro is said to be a design study of a future sub-compact model dubbed the A1. The German auto maker is also expected to venture into the four-door-coupe segment with a model known as the A7. A hybrid variant of the Q7 SUV is also expected before the end of the year followed by a small crossover for the U.S. market.

The new Audi A4, A5 and Audi R8 all go on sale before the end of this year.

 

Source: Reuters

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