 BBC news article on VW, New Golf not selling well... |
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| thomasotten |
 Sep 21 2004, 09:00 PM
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Senior Member  Group: Members Posts: 1,546 Joined: 16-November 03 From: San Antonio, Texas Member No.: 1,349  |
This is from a BBC news article...
High hopes had been pinned on the fifth incarnation of the Golf, which was launched at the Frankfurt Motor Show in September last year. VW's share price rose from 30 euros to more than 45 euros per share in the months preceding the show. The Golf was always leading the class, not just in terms of volume but in terms of defining what is that class But soon after its launch, the car ran into trouble as VW was forced to offer incentives, such as free airconditioning, to fuel sales of the model. This "suggests that all is less than brilliant there", according to Invesco Asset Management fund manager Gerald Roessel. Since the launch of the new Golf, VW's share price has slipped sharply. It is not quite back to where it was a year ago, but still the stock is currently trading well below 40 euros. Analysts are also concerned about VW's expensive push into the market for luxury cars with its Phaeton, the Audi A8, the Bentley Continental GT and the Bugatti Veyron. http://news.bbc.co.uk/1/hi/business/3546229.stm |
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