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.

Sales, profits & dividends, Forecasts, trends, outlooks, Market share, Company sales and earnings, Company earnings/profit, Company market share, Company business forecast/projection, Company forecasts

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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.

Motor vehicles and car bodies, Financial management, Management dynamics, Executive changes & profiles, Management, Officials and employees, Finance, Negotiation, mediation and arbitration, Appointments, resignations and dismissals, Company business management, Company financing, Daimler AG, Bernhard, Wolfgang (German automotive executive)

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