Volkswagen eyes top position in Chinese market
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German automaker Volkswagen AG would fight for its dominant position in the promising Chinese market by introducing new models, its chairman Bernd Pischetsrieder said Tuesday.
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BERLIN Volkswagen says its full-year net profit fell 31 percent in 2004. The German automaker fought headwinds from the weak dollar and sluggish consumer spending in Germany.
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Volkswagen AG, Europe&#39;s largest carmaker, had a seventh consecutive decline in quarterly profit on higher sales incentives and the strength of the euro versus the dollar.
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German carmaker Volkswagen said Friday sales had soared at its plant in Slovakia by 26 percent to nearly $3 billion in the first half of 2004.
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The chief executive of car maker   Volkswagen VOWG.DE, a major shareholder in Sweden's Scania   SCVb.ST, is "optimistic" that his firm can resolve   differences with Germany's MAN MANG.DE over MAN's bid for   Scania, the Wall Street Journal said on its website on   Thursday.
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Automaker Volkswagen AG said Wednesday that it plans to offer new discounts in Germany on its revamped Golf model as it tries to reach its 2004 sales target, making another departure from the company's resistance to price-cutting.
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The German automaker Volkswagen named Stefan Jacoby, left, as president and chief executive of Volkswagen of America, the company said. Mr. Jacoby, currently executive vice president for marketing and sales with the companyâs Volkswagen Group, succeeds Frank Witter, who is moving to Volkswagen Credit to become co-president with Kevin Kelly, Volkswagen said. It added that Mr. Jacoby, 49, would reorganize the automotive business in the United States âin close coordination with the board of management.â It said in a statement that âthe objective is to achieve further significant expansion in the position of Volkswagen and Audi on the U.S. market through attractive and competitive products.â.
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German auto giant Volkswagen posted strong third-quarter results Friday and restated a record full-year sales target as Chinese and South American growth offset slumping turnover at home and in the United States.
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For Rover, a once revered but now sullied brand name, it represents what one insider calls &quot;the last-chance saloon&quot;. For China, a nascent economic superpower, it could be the start of a new phase as a global player in the world auto market.
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A new facility for VW and Audi could take the edge off the companyâs currency woes. VW sales and marketing chief Georg Flandorfer, in an interview with Frankfurter Allgemeine Zeitung, said that steep losses
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The European Union wants greater access to the Chinese market, especially in the auto and textile industries, a ranking official with the European Commission said.
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BERLIN - Volkswagen AG&#39;s announcement this week that it has forged a new partnership deal with Malaysian carmaker Proton comes as a strong euro and Europe&#39;s weak economic performance triggers a fresh wave of German investment in Asia.
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PSA Peugeot Citroen China's unit is expected to miss its full-year car sales target due to intense competition and slumping sales.
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LONDON, November 2  - The German automotive giant, Volkswagen AG (VOW.ETR), continued its negotiations with the labour union today on its planned labour cost reductions.
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More than 30,000 jobs could be at risk at automaker Volkswagen if labor unions refuse to forego wage rises and make other concessions in upcoming negotiations, a top manager was quoted as saying Thursday &#151; comments that drew a sharp response from Germany's largest industrial union.
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Demand for Volkswagen and Audi vehicles helped VW sell more than three million cars in the first two quarters of this year.
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Malaysian carmaker Proton is in talks with Volkswagen about a potential partnership, which could boost the German auto giant&#39;s presence in the Southeast Asian market.