HERNDON, VA--(Marketwired - May 10, 2013) - Audi and Volkswagen today announced the grand opening of two new flagship dealerships in New York City. The $135 million financing is Audi and Volkswagen's largest investment in a dealership real estate project, and is part of the company's continued growth strategy and operations expansion in the United States.
The brands will kick off the dealership opening with a joint celebration on May 10, 2013. Attendees included top leaders from both brands including Mr. Hans Dieter Pötsch, member of the board of directors of Volkswagen Group of America.
"As the nation's leading business hub, and one of the largest and most diverse cities in the world, New York City has always been a vital market for Volkswagen in achieving long-term U.S. growth," said Jonathan Browning, president and CEO, Volkswagen Group of America, Inc., who visited the new Volkswagen flagship today. "We are proud to continue our commitment to the U.S. market with the grand opening of these flagship Manhattan stores and look forward to having customers in the region visit our newest home."
"As part of Audi's U.S. growth strategy, the brand is making major investments in the quality of its dealer network. From facility upgrades to flagship store openings, the Audi dealer network in the U.S. will continue to expand and evolve," said Scott Keogh, president, Audi of America. "This stunning new flagship Manhattan location is yet another step toward Audi's goal of becoming the number one luxury automaker in the U.S."
Beyond this project, the Volkswagen Group is committing $5 billion in North America over the next three years to further strengthen its portfolio and presence in the market.
Strategically located on 11 th avenue, between West 56 th and West 55 th streets in Manhattan, the ultra-modern dealership facility comprises two fully integrated buildings, spanning 265,000 square-feet.
The Volkswagen and Audi dealerships each consist of a main floor showroom, with 17 Volkswagen and 35 Audi service bays. The Volkswagen showroom features its White Frame design concept, which provides a visual framework that highlights the brand's identity. Audi's Terminal design showroom features performance, luxury and environmental themes that the brand has become known for in its vehicles.
The original structure of the renovated Volkswagen and Audi facilities was built in the 1930s. Both dealerships will be operated by Open Road Auto Group of Bridgewater, N.J., one of the largest dealers in the area, with retail sales of 19,597 new vehicles in 2010. The group has 14 other dealerships in New York and New Jersey.
About Volkswagen of America, Inc. Founded in 1955, Volkswagen of America, Inc., an operating unit of Volkswagen Group of America, Inc. (VWoA) is headquartered in Herndon, Virginia. It is a subsidiary of Volkswagen AG, headquartered in Wolfsburg, Germany. VWoA's operations in the United States include research and development, parts and vehicle processing, parts distribution centers, sales, marketing and service offices, financial service centers, and its state-of-the-art manufacturing facility in Chattanooga, Tennessee. The Volkswagen Group is one of the world's largest producers of passenger cars and Europe's largest automaker. VWoA sells the Beetle, Beetle Convertible, Eos, Golf, Golf R, GTI, Jetta, Jetta SportWagen, Passat, CC, Tiguan, Touareg, and Routan vehicles through approximately 600 independent U.S. dealers. "R-Line", "TDI", "VW", "Volkswagen", all model names and the Volkswagen logo are registered trademarks of Volkswagen AG.
About AUDI Audi of America, Inc. and its U.S. dealers offer a full line of German-engineered luxury vehicles. AUDI AG is among the most successful luxury automotive brands globally. Audi was a top-performing luxury brand in Europe during 2012, and broke all-time company sales records in the U.S. Through 2016, AUDI AG will invest about $17 billion on new products, facilities and technologies. Visit www.audiusa.com or www.audiusanews.com for more information regarding Audi vehicles and business topics.
CONTACT: Andrew Lipman +1 917-691-8000 Email Contact Carsten Krebs + 1 703-364-7165 Email Contact
