Volkswagen chief executive Martin Winterkorn will unveil a new strategy dubbed as “Future Tracks” by end of 2014, according to report by Manager Magazin. Winterkorn told the German magazine in an interview that the plan will set new profitability and sales goals. VW’s present strategy targets to push the carmaker as the largest carmaker in world in terms of sales, profitability and image by 2018.
Winterkorn told investors at VW’s annual shareholders meeting last month that the carmaker may achieve its goal of selling over 10 million vehicles globally this year, four years earlier than intended. He told Manager Magazin that now it’s time for the next step."
He said that priorities will include connected cars, vehicles that will appeal to an increasingly aging population, fuel efficiency and China. VW is also planning to open a new site in Bratislava, Slovakia to produce car bodies from aluminum.
Winterkorn told the magazine that he will not change VW Group’s structure, since they have been successful with it, adding that it functions well. VW’s present business plan aims to achieve an 8-percent operating profit by 2018.
The German carmaker expects its operating profit to amount to between 6 percent and 7 percent of sales this year. VW Group sold 9.72 million vehicles last year. Winterkorn said he is planning to unveil the Future Tracks strategy to a meeting of the VW’s top managers in Dresden, Germany. [source: automotive news - sub. required]