In recent years, it's become very clear that the automotive market has changed in a big way.
Since the macroecomic events that created systemic panic across all industry verticals, not only have manufacturers changed their product portfolio mix, they've also changed design and how quick all-new vehicles go from concept to production.
Of course that's unless you're Volkswagen.
What is going on over there, already? It seems like they're stuck in the mud. According to the Bloomberg article attached, VW's product schedule works like this: it completely revamps a nameplate every seven years and updates them every four.
Now VW will switch to rolling out all-new products every five years with refreshes happening in three.
Considering the competitive landscape, is it me or is VW REALLY behind the ball on this one? Not to mention the company is shooting for an optimistic 800,000 units moved annually by 2018.
Consumers, now more than ever, are lacking brand loyalty and want the latest and greatest. Shipping the dullest and oldest isn't going to move vehicles off showroom floors. C'mon VW!
Volkswagen AG (VOW), Europe’s largest automaker, is preparing to bring new and updated models from its namesake brand to the U.S. on a shorter timeframe to meet American demands for revamped products more quickly.
The VW marque will introduce new products every five years, with major refreshes after three years, Michael Horn, head of VW’s U.S. operations, said in an interview. VW currently introduces completely revamped vehicles every seven years, tweaking them after four. “Customers want quicker change,” Horn said...