German Car Wars: Audi to Spend $17 Billion to Catch BMW
Audi is the world's second largest luxury automaker, but it's hoping that's not the case for long; in an effort to catch BMW--currently the world's number one--the German automaker is investing $17 billion through 2016, according to a report in the SF Gate."We will keep investing large sums to pursue our growth strategy," chief financial officer Axel Strotbek said in a statement. "The expansion of our global manufacturing infrastructure will help us to continue growing." Audi is looking to expand its factory in Hungary, and grow capacity in China. A new plant is also planned for Mexico, where Audi parent Volkswagen is currently manufacturing some of its vehicles. Additional money is being spent developing light-weight frames and metals to make its vehicles stronger, while reducing overall weight and improving fuel economy. We were able to see some of the automaker's future plans firsthand at the Audi Sphere exhibit in Copenhagen, Denmark. While Europe's economy has been depressed, luxury automakers have seen record sales in the U.S. and China. Mercedes-Benz, which was also surpassed by Audi, has plans of its own to catch BMW, which continues to grow. BMW is expected to sell 1.54 million vehicles next year, or about 100,000 more than Audi, and Mercedes-Benz. Source: SF Gate
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