Volkswagen is trying to capitalize on the nostalgia for its iconic Beetle and Microbus models in its latest push to regain its status and sales in the United States. The carmaker, second only to Toyota globally, is a niche player in the U.S. Volkswagen aims to double its market share with the launch of electric models, including the ID.Buzz resembling the Microbus, as well as reviving the Scout brand with electric pickups and SUVs.
Foreign automakers see electric cars as an opportunity to challenge dominant players in the U.S. market. Hyundai and its sister brand Kia overtook Stellantis last year as the fourth-largest carmaker by sales in the U.S. European automaker Volvo is also reporting a surge in U.S. sales, driven by hybrids and all-electric vehicles. Volvo plans to release two electric SUV models in the U.S. later this year.
Volkswagen’s last major push in the U.S. ended in a scandal, but it has since invested heavily in electric vehicle technology. The company aims to capitalize on the growing U.S. market with a strategy to expand its product portfolio. Volkswagen also plans to build a factory in Ontario to supply batteries to its North American factories and qualify buyers for federal tax credits.
The U.S. market is integral to Volkswagen’s global success, as the company faces pressure in China, where electric vehicle sales are rapidly growing. CEO Scott Keogh emphasizes the importance of a strong global footprint for Volkswagen.
