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Volkswagen Aims Sales of Over 10 Million by 2018, Spiegel Says

By Christian Vits

Nov. 10 (Bloomberg) -- Volkswagen AG, Europe's largest carmaker, aims to push car sales to more than 10 million a year by 2018 from about 6 million now, German magazine Der Spiegel reported without citing anybody.

Volkswagen Chief Executive Officer Martin Winterkorn will present ``Strategy 2018'' to the board of management on Nov. 16, the magazine reported.

New models, in particular pick-ups, vans and off-road cars will bolster sales mainly in China, Russia and the U.S., Spiegel said.

Volkswagen also aims to boost profit and the company's rate of return, the magazine reported. According to the plan, Volkswagen's Seat SA unit in Spain will have to cut costs significantly and will sell existing models of the company with a slightly changed design under its own brand.

To contact the reporter on this story: Christian Vits in Frankfurt at cvits@bloomberg.net

Last Updated: November 10, 2007 08:38 EST
 
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