Volkswagen plans more models for its China lineupVolkswagen will add two new multipurpose vehicles and a wagon to its sedan-heavy China lineup and plans to sell 10 SUVs within the next few years, as the automaker spares crucial models for the world’s biggest market from emissions scandal spending cuts.
The new Touran L MPV, B8 Variant station wagon and Golf Sportsvan will begin selling in the next few months, Volkswagen China Executive Vice President Soh Weiming said Friday at the Guangzhou auto show. Of the 10 SUVs VW will introduce in China over the next three to four years, six will be locally produced, he said.
“Ten SUVs will probably be one of the biggest portfolios in the market,” said Soh, adding that VW will stick to investment commitments for its largest market by sales.
Meanwhile, Volkswagen will abandon its practice of setting a rolling five-year investment budget for the first time since 2012 amid the European debt crisis as it grapples with the fallout from the unfolding emissions-cheating scandal, people close to the company’s supervisory board said.
With recalls, fines and lawsuits pending, the 20-member body will meet Friday to discuss investment cuts as well as potentially shortening its spending plan to three years or less to maintain flexibility, said the people, who asked not to be identified as the matter is confidential. Volkswagen declined to comment on its budget ahead of the meeting.
VW managers and labor leaders are wrangling over projects for the group, which spans 12 brands and more than 300 models