Just prior to the opening of the annual Detroit Auto Show on Monday, German carmaker Volkswagen announced it plans for ramping up its presence in the United States, aiming to win over American consumers and sell twice the number of cars it does now in three to four years’ time. “We will sell 400,000 to 450,000 vehicles in 2012/13,” said Stefan Jacoby, head of Volkswagen of America, on Sunday, adding that the company’s US business could become profitable by 2013. Volkswagen, Europe’s largest carmaker, has had a hard time finding its footing in the all-important US market. Its presence in China and Brazil is strong and sales in Germany have been helped by a government program last year that encouraged drivers to trade in old gas guzzlers for more for efficient cars. In Europe, VW has 21 percent of the market. But VW market share in the US, including its Audi brand, is only three percent. Part of the reason for that, according to analysts, has to do with the generally dismal state of the car industry in the wake of global recession. Although, VW’s small market share actually gave it a bit of a foot up since it was… Read full this story
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