VW Chairman – we will join with Porsche
There are, however, details to be sorted out, says VW Group chairman Martin Winterkorn.
Negotiations have been ongoing for some time and last year VW acquired Porsche Holdings Salzburg for 3.3bn euros.
Winterkorn tells Headline Auto; “There are still hurdles to jump but the integrated automotive group will happen.”
Such a tie-up will add further strength to a VW product portfolio which is already recording impressive results. “The new VW up! was a product highlight in 2011 and Audi is well on its way to the top of the premium segment,” Winterkorn says, adding that the group will make a decision soon on a new factory in North America for the Audi brand.
“Skoda recorded its ninth successive record year and is on track to growing to 1.5 million vehicles a year by 2018, up from 879,000 last year, growth led by the launch of a new, high quality, low-cost car in India.”
Despite a very trying economic climate in its home market, Spanish affiliate SEAT held its own with 350,000 sales, up 3.1 per cent. Encouragingly the brand showed growth in the UK and Germany although its numbers are still held back by a “dramatic” decline in sales in Spain.
There are plans to boost SEAT’s presence in China with the launch of new models there.
Winterkorn adds that Bentley has continued to bounce back after suffering badly at the outset of the economic downturn.
The British luxury brand has returned to profit and deliveries rose 36.9 per cent to 7,003 cars in 2011 while it recorded an operating profit of 8m euros following a loss of 243m euros a year ago.
Words by: DrivenData Reporter