Blog: Dave LeggettVW lowering '03 profit expectations

Dave Leggett | 28 March 2003

I see Volkswagen boss Bernd Pischetsrieder has been lowering expectations on Volkswagen's 2003 profits outlook. I don't blame him - he wants to keep his job after all (and not be the fall guy for some of Ferdy's extravagances). Volkswagen faces a tough sales environment in North America - not helped by exchange rate movements - and Europe. Model cycles aren't helping either - new Golf won't impact until the back end of this year. All-in-all, it'll be very difficult to match 2002's results.

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