Volkswagen chief Martin Winterkorn has predicted world car sales would fall by up to 20% next year while the industry would have to confront “painful” changes.
Go deeper with GlobalData
The VW chairman told a German newspaper his firm would survive the crisis better than others “but the fall could be up to 10% for the Volkswagen group”.
“The situation for us is not great but it is not radically bad,” Winterkorn was quoted as saying.
“The last few weeks have shown us that we were well prepared, but the same goes for us, we cannot go on like this.”
“We expect the fall in sales to continue and even get worse in some circumstances. The industry faces painful changes.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataWinterkorn confirmed earlier forecasts for 2008 with an increase in sales and operating profit and said there was no plan yet to reduce working hours at the company’s factories, Agence France-Presse reported.
