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VW 'to make 300,000 fewer cars this year'
Photo: DPA

VW 'to make 300,000 fewer cars this year'

Published: 07 Sep 2012 11:15 GMT+02:00
Updated: 07 Sep 2012 11:15 GMT+02:00

German car maker Volkswagen is expecting to sell 300,000 fewer vehicles this year than initially planned, largely due to European economic difficulties, sources at the firm say.

As Europe's biggest vehicle producer, Volkswagen had so far escaped the Europe's financial woes thanks to steady growth in the US and China, the Handelsblatt newspaper said on Friday.

But 2013 looks likely to be different, as board chairman Christian Klingler has apparently slashed 300,000 cars from the 9.7 million target for 2012, the paper said.

Quoting company sources, the paper said around 250,000 of these vehicles had been expected to be made in Europe, where other car companies like General Motors-owned Opel have been announcing widespread production cuts. Unlike Volkswagen, Opel does not have a flourishing overseas market to help support it.

The reductions are expected to kick in towards the end of autumn, leaving the total vehicles produced in 2012 at 9.4 million. This is still an increase on 2011, when the company churned out 8.4 million vehicles – 15 percent more than in 2010.

Volkswagen aims to produce at least 10 million vehicles per year by 2018. The reduction in 2012's targets signal that they are still growing but just at a slower rate than they may have hoped for.

Analysts had, the Handelsblatt said, predicted even larger reductions for the year – suggesting Volkswagen might bring down its target to nine million.

Despite Handelsblatt claiming access to internal information, a spokesman from the company refused to confirm or deny the reduction. “We do not comment on speculation,” he told the paper.

The Local/jcw

The Local (news@thelocal.de)

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Your comments about this article

12:17 September 7, 2012 by smart2012
maybe Marchionne was right? And VW has created a bubble?............ time is starting to say....
14:14 September 10, 2012 by murka
I own my third VW and I fail to see any "innovation". The last one got electric windows, yeah.

I guess I keep buying them because of lack of innovation. They stick to the old working stuff.
05:35 September 20, 2012 by honeybeee
Global automobile production grew 8.6 % during the first six months of 2012 compared to the prior year period, reaching a volume of 41.3 million passenger cars and light commercial vehicles produced (source: IHS Global Insight Automotive).

Comparatively to Germany car company , Germany car-parts supplier company Schaeffelr Ag is really a big winner in this situation . Now below we can use some figures to prove it . The Schaeffler Group¦#39;s revenue increased by five percent to approximately €5.7 billion during the first six months of 2012. The Automotive division expanded by seven percent to approximately €3.8 billion. The Industrial division was able to increase its revenue by two percent to approximately €1.8 billion. As expected, the company¦#39;s EBIT of €780 million fell short of the exceptionally high prior year level of €883 million. The EBIT margin for the first six months was 13.8 percent (prior year: 16.4 percent). Net income for the period excluding non-controlling interests amounted to €505 million (prior year: €641 million). Though it is a little decrease than exceptionally high prior year , but this company is still very strong in growth rate and maintain operational well .

Someone happy and someone is in miserable in this current economical situation, and this harsh situation is the best test for most of companies¦#39; surviving ablity ,the strong operational company like schaeffler is no doubt the survivor even it can be said it is a model business to the whole auto industry in this recession situation .
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