Volkswagen (VLKAY) Plans To Invest $3.3B In North America
Zacks Investment Research | Jan 15, 2018 08:53PM ET
Per Reuters, Volkswagen (DE:VOWG_p) AG (OTC:VLKAY) has plans to invest more than $3.3 billion to expand its market share in North America, the second largest auto market in the world after China. Starting from 2018, the company plans to utilize this amount to develop and manufacture new models through 2020.
Post Volkswagen’s diesel emission scandal in September 2015, the company has been trying to strengthen its hold in the United States. Per management, the company intends to develop its brand value in the country and aims to achieve break-even in operating profits by 2020.
As part of its plan, Volkswagen will introduce two new models in the United States including the all-new Arteon fastback in 2018. This same year, it will also launch a re-designed edition of its bestseller, Jetta compact sedan. Moreover, of the total planned investment of $3.3 billion, the company will pump in around $1.2 billion in the United States.
Volkswagen AG Price and Consensus
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.