Volkswagen USA CEO Jonathan Browning Discusses New Beetle on Bloomberg TV

Strategic Insights -

Volkswagen USA's CEO, Jonathan Browning, sat down with Matt Miller on Bloomberg TV on April 18, 2011, to discuss the company's new Beetle, which was unveiled that morning in lower Manhattan. Browning emphasized the Beetle's importance in reconnecting with U.S. customers and highlighted its potential to appeal to both male and female buyers. He also discussed Volkswagen's plans to expand its market share, including the launch of the new Jetta, which had seen sales increase by over 60% in the first quarter of that year.

Key Takeaways:

  • The new Beetle is the third generation of the iconic vehicle, which has sold over 21 million units globally since its introduction over 60 years ago.
  • Volkswagen designed the new Beetle to be a driver's car, with a focus on fun and performance, rather than just being a "chick's car".
  • The company aims to expand its market share in the U.S. and plans to introduce the new Beetle in the fall, priced competitively with other vehicles in its segment.
  • Volkswagen has a significant presence in the U.S., with over 3,000 employees in more than 30 locations across the country and plans to expand its manufacturing footprint with the opening of a new plant in Tennessee.
  • The new Chattanooga plant is expected to create over 12,000 jobs directly and will initially produce the Passat, with opportunities to grow beyond that in the future.

Statistics:

  • Over 21 million Beetles sold globally since its introduction over 60 years ago.
  • Sales of the new Jetta increased by over 60% in the first quarter of 2011.
  • Volkswagen has over 3,000 employees in more than 30 locations across the U.S.
  • The new Chattanooga plant is expected to create over 12,000 jobs directly.

Sources:

  • "Street Smart" on Bloomberg TV, April 18, 2011.
  • Bloomberg LP.
  • CQ-Roll Call, Inc.