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Germany : VW to keep investing in bid for world dominance
Publish Date : 24-Nov-2012
Volkswagen is expected to increase planned investment in new vehicles and factories, looking beyond a European slump to its long-term goal to be the world\'s largest car maker.
While the multi-brand group is less exposed to austerity-hit Europe than rivals PSA Peugeot Citroen and Fiat , finding the cash to achieve its goal is becoming harder and it has to balance keeping a tight rein on short-term costs with the need to develop new products.
VW\'s 20-member supervisory board is due to sign off on new spending targets for 2013-17 on Friday.
Wolfsburg-based VW is expected to increase spending by 12 percent to as much as 70 billion euros (US$89.73 billion) for its twelve brands over the next five years, compared with 62.4 billion for the 2012-16 period agreed a year ago, analysts said.
