One would think that 12 brands, which are currently owned by Europe’s number one and the world’s number three automotive group, would be enough. Apparently, they are not: VW Group executives must have had their fingers crossed behind their backs when they recently vowed to put an end to their brand shopping spree .
While VW is not going to buy another carmaker yet (as far as we know, at least) it is getting ready to launch a new global budget car brand that will compete with the likes of Dacia, Lada and Chinese companies like Geely.
It’s a shrewd move by the Germans as, by the end of 2012, entry-level cars costing up to €10,000 (US$13,000) will account for a global sales volume of 13 percent, or 8 million units.
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