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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