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German carmaker Volkswagen announced it plans to invest $7 billion in North America over the next five years as it looks to boost its sales in the U.S, which slid 7% last year. A new seven-passenger SUV will go on sale in the U.S. in 2016 as part of the investment plan.
Volkswagen is rolling out the latest version of its mainstay Golf hatchback in a key test of its ability widen its lead over other mass market carmakers in Europe.