GERMANY: VW needs market rebound to match '02 operating profit in '03 - report
Volkswagen AG warned on Tuesday that it won't be able to match its 2002 operating profit in 2003, unless the western European and US car markets rebound, Dow Jones reported. Dow Jones said VW chairman Bernd Pischetsrieder told reporters at the carmaker's annual press conference that unfavourable exchange rates will probably also hamper profits this year. VW's operating profit in 2002 was EUR4.76 billion.
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