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Volkswagen may post the same kind of operating loss in North America this year as it did last year, chief financial officer Hans Dieter Poetsch reportedly said on Thursday.

“For the full year we could be looking at a loss in the magnitude of 2004,” he told Reuters during a conference call.

On China, he said: “As a result of these (reorganisation) measures we expect to be around break even at the operating level this year before the impact of reducing inventories and other measures is taken into account.”