Volkswagen to add new brands to its portfolio

Volkswagen AG Chairman Ferdinan Piech indicated Europe’s largest automaker plans to add at least one brand to the current lineup as part of a strategy to claim the industry’s top spot by 2018.

Piech said in an interview with German monthly magazine ADAC Motorwelt that his children 10 years from now will drive one of the automaker’s “at least 13 brands.” VW currently has 12 marques. VW representatives declined to comment.

VW currently has eight passenger car nameplates, a light commercial-vehicle unit, two heavy-truck makers and one motorbike brand, Bloomberg reports.

Piech did not say how the carmaker might add any additional nameplates. The automaker is looking at starting a budget brand for emerging markets and a decision could be made on that this year, VW said last month at the Detroit auto show.

Piech and other Volkswagen executives have also voiced interest in buying Fiat SpA’s Alfa Romeo, which Fiat CEO Sergio Marchionne reiterated last week isn’t for sale. Piech described Alfa Romeo as a “cult brand” in the ADAC Motorwelt interview.