Report Says Volkswagen Aims to Overtake Toyota by 2015

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FRANKFURT, Sept 22, 2007; Reuters reported that Germany's Volkswagen aims to overtake Japan's Toyota as the world's number one carmaker by the year 2014 or 2015, the German industry magazine Auto Motor und Sport reported on Saturday.

"We want to overtake Toyota in volumes and by profitability," the magazine quoted Michael Kern, head of sales and marketing for the Volkswagen brand, as saying.

"In the next three years we are going to bring 12 new models to the market and we are going to expand our presence in the United States, Russia, India and other markets," Kern said.

Citing company sources, Auto Motor und Sport said Volkswagen's internal planning assumes that the company will surpass Toyota measured by production volumes in 2014 or 2015.

Toyota is expected to produce 9.34 million vehicles this year and U.S. General Motors (GM.N: Quote, Profile, Research) around 9.3 million, the magazine said.

Volkswagen's 2007 output would exceed 6 million vehicles, Auto Motor und Sport quoted Kern as saying.