Volkswagen and BMW expected to grow

January 21, 2013 12:00 AM

The auto industry has been improving over the course of the past few years, and the trends appearto be poised to continue into 2013. According to the 14th Annual Global Automotive Executive Survey, conducted by KPMG, most executives believe that Volkswagen and BMW will be leading the charge with increased market shares in the next five years.

More than 81 percent of executives predict that Volkswagen will make significant gains, up from 70 percent who believed the same in 2011. Similarly, 70 percent think BMW will grow, compared to just 63 percent last year. Both brands are expected to see increases thanks to redesigns, vehicle maintenance and upgrades.

"Volkswagen continues to be a powerhouse, with consistent market share gains in the U.S. and abroad," said Gary Silberg, an automotive leader for KPMG. "It is very interesting to see a luxury brand like BMW jump into the second spot, a sign that the automaker's strategy and vehicles continue to impress the industry."

The survey results follow the news that Volkswagen ended 2012 with the best sales year in its history. More than 580,000 Volkswagen vehicles were sold in the past 12 months, besting its 1970 mark by nearly 3,000 cars.

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