VW to Reach 10 Million Mark for Annual Car Sales in 2014
German car-maker Volkswagen expects to sell more than 10 million vehicles across its multi-brand group this year, aiming to hit a long-running target four years earlier than previously planned.

At the annual press conference, VW said that Group sales were up 4.7 per cent in the first two months of this year at 1.47 million automobiles, excluding the MAN SE and Scania heavy-truck brands.

VW will shift its focus more strongly toward earnings quality, the company said, counting on boosting margins with the gradual adoption of its new MQB modular platform for a wide range of cars.

"More than ever before, our objective is qualitative growth," Chief Executive Martin Winterkorn said.

Currently, VW is working to cut production costs and shorten assembly times across its various ranges of small and medium-sized vehicles by basing them all on new MQB single modular platform, which standardises production and shares a great number of parts.

Last October, VW said it expected to save about €1 billion in production costs this year as the number of cars built on the MQB platform may almost double to 2 million in 2014, with the projection to increase to 4 million by 2016.

VW eclipsed General Motors last year, becoming the world's largest car maker behind Toyota, increasing sales 4.9 per cent to a record 9.73 million vehicles. Greater earnings quality will also be achieved by deepening co-operation with Porsche, which VW took over in 2012.

VW plan to launch over 100 new models and re-vamp their current vehicles in 2014 and 2015.