Audi to boost spending on cars, plants in bid to catch BMW

Germany’s Audi (VOW3.DE) will grow spending on new models, plants and technology in coming years as the luxury carmaker steps up efforts to catch larger competitor BMW (BMWG.DE), people familiar with the matter said. The Volkswagen-owned division plans to spend more than 20 billion euros ($27.46 billion) on global operations through 2018, said the people on condition they not be identified because Audi’s spending plan won’t be published until December 27. German magazine Auto Motor und Sport reported the size of Audi’s investments on December 12, citing chief executive Rupert Stadler. Audi aims to sell at least 2 million cars a year and overtake luxury-sales champion BMW by the end of the decade.

    

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