Volkswagen has revealed its latest model of the Passat sedan, viewed by many experts in the industry as the luxury car for the common Volk.
With competition from other brands such as BMW and Mercedes-Benz becoming tougher than ever, Volkswagen needed to reinvent the Passat to ensure a secure market share. The current Passat models, in addition to station wagons, needed a serious upgrade.
"This is a car that aspires to be a premium model without a premium price," Martin Winterkorn, Volkswagen's chief executive, told the Wall Street Journal. Mr. Winterkorn led the unveiling of the Passat's new design in Potsdam.
Volkswagen is enjoying a continuous increase in sales in China. During the first half of this year, the German carmaker sold at least 1.4 million units in the country. The cars were selling so quickly in China that the company announced its plan to build two more factories to accommodate the market's demand.
But the story is different in Europ,e where car sales declined compared to rivals Ford, GM, and Renault. In the United States, sales decreased by 13 percent and 21 percent in South America during the same period.
With the introduction of the new Passat model, VW executives hope to turn the table and command higher sales once more.
"I am convinced that the new Passat will certainly be a little top-of-the-line model," Heinz-Jakob Neusser, VW brand-development chief, told the WSJ.
