Volkswagen reported second-quarter earnings today that beat estimates.
Earnings actually fell 3.1%, but that wasn’t as bad as analysts expected, Bloomberg’s Christophe Rauwald reported.
What’s intriguing is that VW wants to change its corporate metabolism to be more like…Apple. It can take years for an automaker to bring a new car from development to production, which can leave consumers feeling that a manufacturer’s lineup is stale.
According to Bloomberg’s Rauwald, “[T]he world’s No. 2 carmaker is mobilizing a team of 40 to 60 top managers to accelerate vehicle and technology development to mimic the fast-paced rollouts of consumer electronics companies like Apple Inc.”
Earlier this month, Rauwald reported on VW’s decision to establish the managerial “task force” to accomplish this goal. There’s no question that the world’s automakers are grappling with the rapidly evolving landscape of technology and trying to avoid being left in the dust. Ford, for example, just announced that it will be sponsoring an app developer conference in September.
And Tesla CEO Elon Musk recently enthused over software updates to the Model S sedan that will, among other things, enable owners to name their cars.
This is going to be a major theme in the auto industry over the next few years.
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