62.39 percent rise in net profits for the first nine months. Soh Weiming made no predictions regarding Volkswagen’s sales in China. Which prompted Bloomberg to point to a government estimate that says that Volkswagen China sits on a pile of 170k unsold cars. Now we understand Soh Weiming’s feelings.After a surge of 23 percent in the first two quarters of 2008, Volkswagen’s sales in China dropped 4.2 percent in the third quarter. SAIC, Volkswagen’s joint venture partner in China’s reported a 78 percent plunge in third-quarter profits. The company, which is also in bed with GM, said their vehicles sales growth was only nine percent in the first nine months. Last year, SAIC’s sales had ascended 24 percent. FAW, Volkswagen other joint venture partner, fared better; they reported a
(Photo courtesy thestandard.com.hk. Thank you!)
QOTD: Which Vehicles Deserve a Cost-cutting Trim Level? - Yesterday, Tim Cain reported on the new Chevrolet Tahoe Custom trim, which lowers the point of entry on the Tahoe by $3,750 for 2018. If you’re a nerd an...
46 minutes ago