Volkswagen plans new luxury model for 2007-CEO

Newswire

FRANKFURT, Nov 29 (Reuters) - Europe's biggest automaker Volkswagen AG plans to introduce a new luxury model by 2007 to compete against BMW's 5-series and the DaimlerChrysler's Mercedes-Benz E-Class, VW chief Bernd Pischetsrieder said on Saturday. Pischetsrieder told the Frankfurter Allgemeine Sontagszeituing in an interview released ahead of publication that the internally-named C1 model will slot in between the Passat and Phaeton models. "There is a gaping price gap between the Passat ...

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