Volkswagen CEO Martin Winterkorn has revealed plans to launch 60 new or updated models in an effort to become the world's largest automaker by 2018.

Volkswagen CEO Martin Winterkorn has revealed plans to launch 60 new or updated models in an effort to become the world's largest automaker by 2018.

The executive declined to go into specifics but said "Regardless of whether we are in an upturn or a downturn, our goal is to ensure the Volkswagen group reaches the top of the automotive industry."

Despite "challenging conditions and intense competition," Winterkorn says Volkswagen is committed to their previously announced targets for 2013. So far, the company appears on track as first quarter sales have increased by 5.1 percent to 2.4 million units. However, the company's operating profit dropped by almost a billion euros from a year ago.

In the mid-term, Volkswagen will try to distance themselves from declining European sales by opening 1,500 dealerships in "growth markets." The company hopes this, along with a revamped product lineup, will ensure they will outsell General Motors and Toyota by 2018.

 

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