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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Cogito Ergo Sum who wrote (17568)12/3/2004 7:54:25 PM
From: mishedlo  Read Replies (1) of 116555
 
Continued depreciation in the dollar is forcing Europe's largest carmaker Volkswagen to consider building VW and Audi brand cars in the United States. "We are thinking about manufacturing those models there that for the most part are also sold in the U.S.," Georg Flandorfer told German daily Frankfurter Allgemeine Zeitung..The weak dollar is a major reason why VW expects to book a 1 billion euro ($1.34 billion) operating loss in North American operations this year. At current levels, the carmaker has said it will be tough to turn a profit there in 2005 either, despite the relaunch of key new models like the Jetta and Passat..On Wednesday, VW reported November U.S. monthly car sales plunged around 40 percent.
($1=.7493 Euro)

story.news.yahoo.com
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