VW's Winterkorn plans new strategy called Future Tracks
MUNICH -- Volkswagen CEO Martin Winterkorn will unveil a new strategy for the automaker called Future Tracks by year end, a German magazine report said.
The plan will set fresh profitability and sales goals, Winterkorn told Manager Magazin in an interview published today.
VW's current strategy aims to become the top global automaker in terms of vehicle sales, profitability and customer satisfaction by 2018.
VW may reach its goal of selling more than 10 million vehicles worldwide this year, four years earlier than planned, Winterkorn said at the company's annual shareholders meeting on March 13.
"Now it's time for the next step," he told Manager Magazin. "We will focus even more strongly on our customers and their future needs."
Among the priorities for the new business plan will be connected cars, building more vehicles to appeal to an increasingly aging population, fuel efficiency and China.
The plan will map out VW's strategy from 2018 to 2025. It will further develop the essential parts of the current Strategy 2018 plan, Winterkorn said.
VW Group’s structure will not change, for example by combining volume brands into a single group and luxury marques into another unit, the CEO said. Instead the current structure of independent brands and regions will continue. "We have been successful with this structure and it functions well," Winterkorn said.
VW’s current business plan targets an 8 percent operating profit by 2018. The company forecasts that operating profit will amount to 6 percent to 7 percent of sales this year, compared with 6 percent last year.
VW Group sold 9.72 million vehicles in 2013.
Winterkorn will unveil the Future Tracks plan at a meeting of the group’s top managers in Dresden, Germany, late this year.