Fresh off its strongest year ever, Audi AG is taking aim at German rival BMW AG and promising to become the world’s largest luxury automotive brand.
The maker is planning to invest more than $14 billion through 2015 to support its ambitious goals, funding a product program that will cover the increasing breadth of the luxury segment, from the small A3 hatchback to an assortment of new crossover-vehicles, such as the planned Audi Q6, said CEO Rupert Stadler. It also is investing in a number of new assembly plants, including one planned for Mexico.
“There are years in which to harvest in our industry and there are years in which you sow,” said Stadler at Audi headquarters in Ingollstadt, Germany. While the cost will be significant, the payoff should come by 2020, when the executive added, “we are preparing to (sell) two million cars annually.”