Audi, a Volkswagen’s subsidiary is betting big on its future by investing 17 billion US Dollars (Rs. 93,083 crores) globally for further expansion and development on their products and plants till 2016. The investment plan aims to increase the technology, which will be used to design lightweight cars and electric powertrains. According to sources, the investment is also projected to expand the production in Audi’s Hungary plant, increase the capacity in the company’s China plant and build a new plant in Mexico from 2016.
The second-largest luxury car maker, Audi is targeting a sales of two million cars a year to take on its direct rival, BMW, which is leading the race in the luxury car market currently. This move by the German company can help in achieving Volkswagen’s aim to become the world’s biggest car manufacturer by 2018. Audi’s chief financial officer, Axel Strotbek states that the company will keep investing large amounts to follow their growth strategy and the expansion of their global manufacturing infrastructure will help them to continue growing.
Audi is all set to launch its compact A3 hatchback and sedan next year to increase their sales. Meanwhile, BMW and Mercedes-Benz are also planning to heat up the competition in the luxury car market. BMW is expected to introduce its first electric car i3 next year and the new 4-Series coupe to boost up the sales chart, while Mercedes-Benz is likely to come up with the next generation S-Class and the all-new four door coupe, CLA. In November 2012, BMW sold 1,45,452 units compared to Audi’s 1,23,600 units, whereas Mercedes-Benz being the lowest, selling 1,20,346 units. Audi’s future seems to be bright, if the company follows their strategy aggressively.
