Volkswagen Group CEO Oliver Blume has big plans for the future as he prepares for a record-breaking 2024. The carmaker hopes to outperform the market thanks to a tsunami of new products it will launch around the world.
Despite predicting that 2024 will be a turbulent year for the car industry, the car giant is relying on new models to grow sales by 3 per cent this year. That's less than it grew in 2023, but the group's finance chief, Arno Antlitz, said at a recent financial presentation that the group was "confident about 2024".
And growth will be helped by new electric vehicles, in which the group remains confident despite the segment's difficult results. Although sales growth in the segment slowed at the end of 2023, Blume said that EVs are “the future. Period,” per Autonews. Unlike other automakers that have walked back their commitments to electric vehicles, VW has made no such announcements, though the CEO did hedge, saying that the company is “flexible enough to adapt to changes in different markets.”
Blume said Volkswagen was still considering producing an entry-level EV, codenamed ID.1, with a starting price of €20,000. He said the company is open to working with partners to make it happen. Indeed, the carmaker is reportedly in talks with Renault to co-develop the affordable EV.
Cooperation within the group is also important. Blume says that VW's many brands are working together more closely than ever to drive innovation and cost savings. The Audi and VW brands are also working with Cariad, the group's software division, to get their innovations onto the road faster.
Source: Autonews