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Significant Points
Long-expect­ed reorg posi­tions VW for major step-up as glob­al com­peti­tor
Piech, who stays on as chmn of VW super­vi­so­ry board, still could run show from behind scenes
VW’s jump into luxo field seen as over­due attempt to inroad BMW, MBZ Europe mar­ket, even­tu­al­ly US, but should hurt sib­ling Audi
At least $3B set aside for luxo out­reach, which may start in 2002 when D1 sedan enters pro­duc­tion
Volk­swa­gen Group 11–23-01 to be recast into 2-divi­sions: “sporty” or “south­ern” & “clas­sic” or “north­ern”
No impact on N Amer­i­ca Audi/VW duo oper­a­tions seen by Audi of Amer­i­ca VP Len Hunt
VW reor­ga­nizes to brace for prod­uct expan­sions with D1 luxo VW sedan, W12 VW sport coupe & heavy-duty trucks
But auto­crat­ic VW czar Dr Fer­di­nand Piech, whom ex-BMW chief Pis­chet­srieder suc­ceeds in Apr, wants VW to spread wings