DETROIT Jan 12 Volkswagen said on
Sunday it plans to make a sport utility vehicle tailored for the
North American market and to invest $7 billion in the region as
it seeks to hike sales.
Volkswagen, Germany's largest automaker, reiterated its goal
of selling 1 million Volkswagen and Audi vehicles in the United
States annually by 2018 as it launches more locally made cars
suited to the U.S. market.
"As a group we will be investing over $7 billion in North
America over the next five years," Chief Executive Martin
Winterkorn said in a statement released on Sunday, on the eve of
the North American Auto Show in Detroit.
The $7 billion is part of an already announced multi-year
investment program by the Wolfsburg, Germany-based Volkswagen
For the U.S. market, Volkswagen said it will launch a
seven-seater sports-utility vehicle in 2016. The company is also
due to start production of the Golf compact in Puebla, Mexico,
In 2013, Volkswagen Group, which also owns the Porsche,
Bugatti, Lamborghini, Skoda and Seat brands, sold 600,000 cars
in North America.
As part of a product offensive, Audi plans to launch the A3
compact and Q3 compact sports utility in North America this