Volkswagen a victim of U.S. auto battles: quarterly earnings fell 95% on aggressive competition; troubles in Golf widen
Article Abstract:
Volkswagen AG reported a significant drop in its fourth-quarter profits, an illustration of pronounced competition in the American automobile industry. Other factors influencing the drop include a rise in the euro's value against the dollar and the entry of Western automakers into Chinese markets, which spurred a price war.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2004
User Contributions:
Comment about this article or add new information about this topic:
VW to hire high octane executive
Article Abstract:
Successful auto executive Wolfgang Bernhard is joining the management of Volkswagen AG from DaimlerChrysler AG. Volkswagen is looking to Mr. Bernhard to help it turn around its ailing VW division, which is facing slumping sales and high costs.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2004
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Volkswagen aims to triple U.S. sales. Volkswagen sees additional gains in profit, revenue. VW launches redesigned Golf
- Abstracts: Diageo net profit tumbles 95% on charge related to Burger King. Allied Domecq posts 13% drop in its net profit
- Abstracts: Suez Lyonnaise is set to buy Nalco Chemical; water-treatment concern will make French firm leader in the industry
- Abstracts: M&S buys some time with turnaround plan: U.K. retailer announces strategic moves to equal euro 13.62 billion takeover bid
- Abstracts: Microsoft shrugged off EU warning. Did credit-card issuers collude to force arbitration