Volkswagen To Launch New Models

WOLFSBURG, Germany -Dow Jones reported that Volkswagen AG said Thursday that it will launch its new van, named Touran, in the first quarter of 2003, later than many expected.

It marks the next step in a strategy to expand its model lineup and cover more market segments.

The new Touran will be smaller than the Sharan, the other van VW now sells, the German carmaker said in a press statement.

The multi-purpose vehicle, or people carrier, follows the luxury sedan Phaeton, which went on sale in the spring, and sport utility vehicle Touraeg, slated to debut this autumn. VW also unveiled plans in June to build the Microbus - a new take on its legendary "hippie bus" - no later than 2005.

A replacement for the aging Golf is also expected next year.

VW can't yet give details such as sales targets and investments, but will do so before the Touran hits the market, said company spokesman Harthmuth Hoffmann.

Many analysts had expected the new multi-purpose vehicle, based on the Golf platform, to go on sale as early as the fourth quarter of 2002.

Such new models are key to driving sales higher, especially when the economy wobbles and vehicle markets contract, as they have this year.

VW's sales have tumbled so far in 2002, but some analysts have grown more bullish on its outlook thanks to these new vehicles.

Company Web site: http://www.volkswagen.com