Volkswagen is slowing its international expansion plans in light of the growing global financial crisis.
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Finance chief Hans Dieter Pötsch told Handelsblatt newspaper that the planned expansion of new plants in emerging markets would be delayed while the financial situation is assessed.
Pötsch said that conditions had worsened considerably and that as a result he was now expecting a considerable slowdown in growth in emerging markets in the next two years.
Only last week, Volkswagen chief executive Martin Winterkorn said he expected at least a small increase in sales in 2009. Pötsch said at the time he saw the first six months of the year as difficult.
