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26 September, 2000There will be six or seven auto companies in the future, says the chief executive of Volkswagen, Ferdinand Piëch, at the IMF World Auto Council.
GERMANY: Speaking to the International Metalworkers' Federation World Auto Council, currently meeting in Wolfsburg, Germany, Dr. Ferdinand Piëch, CEO at Volkswagen, said that increasing competition is putting hard pressure on the auto industry. Services related to the car are going to be more and more important for producers. In the future, the customer will be buying the car plus services around the car, for example navigation systems.
Piëch described the rapid changes in the auto industry. In 1964, there were 52 independent producers; at present, there are just 14. Speaking on the theme "The global automobile industry on the threshold of the 3rd millennium -- trends and outlook," he forecasts even fewer producers -- "six or seven."
Piëch believes that the current four largest auto companies will remain independent. Today, Volkswagen is the fourth biggest producer.
Piëch described the rapid changes in the auto industry. In 1964, there were 52 independent producers; at present, there are just 14. Speaking on the theme "The global automobile industry on the threshold of the 3rd millennium -- trends and outlook," he forecasts even fewer producers -- "six or seven."
Piëch believes that the current four largest auto companies will remain independent. Today, Volkswagen is the fourth biggest producer.