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VW feared protracted crisis


WOLFSBURG (Dow Jones) – With increasing Europe’s largest car manufacturer VW The fear of a very long car crisis. The Board of Directors to CEO Martin Winterkorn is afraid to information from the industry and Business newspaper "Automotive Week" that the weakness of the Vehicle activity and was significantly longer stretches than previously expected. (Photo: VW)

"This is most critical year of the crisis before us," said Chief Financial Officer Hans Dieter Poetsch in a confidential letter Management to management.
Accordingly, VW expects the period from 2007 to 2018 a figure that compares with previous estimates by a total of 67 million vehicles  lower car world. "And that means the elimination one complete calendar year, the world total in that period, " put VW sales expert Detlef Wittig managers in the same letter, which is before the leaf has indicated it dar. 2010-01-24_winterkorn_188neu_vw
"This effect leads to a sustained lower Group deliveries to customers in comparison to the pre-planning and thereby at a lower financial result, "Wittig is cited.
Declining sales in its core European market, significant Over-capacity, high pricing pressure, risks of insolvency among suppliers and Retailers, and an ongoing deterioration of the product mix towards smaller vehicles put the Volkswagen Score "under additional Pressure ", is from the VW letter also cited. The crisis is far "not yet recovered," the noisy conclusion in the passage of CEO  Winterkorn. When VW was on Sunday for a first no one Opinion reach.
Website: www.automobilwoche.de
DJG / apo / voi