Volkswagen Counts Heavily on Passat CC
April 08, 2008

Volkswagen is counting heavily on its newly launched Passat CC for future growth, as the   brand aims to sell 6.6 million vehicles a year by 2018, company executives said Tuesday at the launch of the new Passat CC in Germany and reported by Bloomberg News .

The automaker said it plans to sell 300,000 Passat CC models worldwide over the next six years. It will be sold in Western Europe, China, Japan and North America by autumn. The Passat CC, which made its debut in Detroit in January, may generate as much as a fifth of future sales of Passat models, the automaker estimates as reported by Bloomberg. Volkswagen has sold 15 million Passats worldwide over the past 35 years, making it the automaker's third best-seller after the Golf and the Beetle.

The Tiguan compact sport-utility vehicle, introduced last year, has generated more than 100,000 orders' to date, company executives said.

Bloomberg reported that Volkswagen brand’s first-quarter sales rose 8 percent to 930,000 vehicles on increased demand in China and Germany. Volkswagen is focused on record sales and profits this year built on higher demand for its best-selling Golf and labor cost reductions. The automaker cut its workforce by 20 percent in Germany last year.

Posted by Michelle Krebs at 6:10 AM under Business , Companies | Comments (0) | digg this | Seed Newsvine