Volkswagen will have difficulty breaking even in North America next year if exchange rates remain at current levels, Volkswagen head Bernd Pischetsrieder reportedly told analysts.
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According to Reuters, Pischetsrieder had earlier sounded a warning note on the outlook for its US business for this year, saying there is a “very high” risk that its loss in the United States will widen in the second half of this year, from almost half a billion euros in the first six months.
The news agency noted that Volkswagen posted operating profit for the first half of 2004 at €979 million, down 19.8%, while its North American business posted an operating loss of €503 million.
