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Volkswagen Group CEO: >$7B investment in N. America over next 5 years; mid-size SUV for US launching in 2016

On the eve of the North American International Auto Show (NAIAS) in Detroit, Prof. Dr. Martin Winterkorn, CEO of Volkswagen Group, announced a more than $7-billion investment program in North America over the next five years.

Winterkorn also confirmed a coming Volkswagen midsize SUV for America and reaffirmed the goal to sell one million vehicles from the Volkswagen and Audi brands per year in the US by 2018.

Development of 7-seater midsize SUV is already underway; market launch is scheduled for 2016.

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