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September 14, 2007
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Friday
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Ramazan 1, 1428
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Automakers focus on smaller cars
FRANKFURT, Sept 13: This year’s Frankfurt motor show saw the world’s biggest car makers focused on smaller, more affordable models and turning more attention to emerging markets where demand was expected to surge.
BMW chief executive Norbert Reithofer said he did not rule out making a car smaller than the BMW 1-Series, which the German automaker launched in 2004.
Likewise, Volkswagen said it was planning to develop 12 new models over the next three years.
VW chief executive Martin Winterkorn said “a not insignificant” part of the new models would address new market segments.
But MerckFinck analyst Robert Heberger said: “It is unlikely that the big German car makers are planning to compete in the low-cost segment.” DaimlerChrysler is nonetheless considering the launch of its Smart car in Asia to tap into growing demand for compact cars there.—AFP
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