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Business

VW conquering Americas at heart of revamp

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Business

VW conquering Americas at heart of revamp

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COMING UP:VW conquering Americas at heart of revamp

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00:00:00
>> Still aiming to resurface from the depths of the emissions scandal, Volkswagen latching on to what it hopes will be a new lifeline the U.S. and South American markets.>> In North America>> VW's brand chief Herbert Diess laying out the group's latest plans on Tuesday. Reuters Breakingviews columnist Olaf Storbeck says there's a big focus on 2020.
00:00:22
>> Volkswagen today announced quite ambitious plans for growth in North America. Where they want to become one of the top volume players rather than a niche player which they currently are by 2020 they want to lower cost. They want to launch over almost 20 new SUVs worldwide. They want to cut employment in their German, in their Volkswagen brand by 30,000 people by 2020.
00:00:51
>> VW hasn't had much success in North America in the past. Now they want to make cars Americans actually want to drive. This could be bolstered by their grand plans for electric vehicles. Plans for electric cars may keep VW big, but it won't necessarily make the company more beautiful.
00:01:09
And breaking into the US market won't be easy either. Right now, VW's reputation is at rock bottom there and it could take ten years to compete with mass market rivals, Renault and Peugeot.