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Volkswagen to invest $340 million in South Africa

Volkswagen to invest $340 million in South Africa

As Volkswagen AG is looking to become world’s biggest automaker by 2018, the German company plans to invest $340 in the South African industry for new products and infrastructure. The car manufacturer stated that it will spend around $228 million on production facilities at the Uitenhage factory, situated near Port […]

Volkswagen CFO expects worse first quarter this year

Volkswagen CFO expects worse first quarter this year

Volkswagen predicts the first quarter of this year will be worse than a year earlier, adding to another forecast last week that said the carmaker’s 2013 operating profit will stagnate. According to Volkswagen Chief Financial Officer Hans Dieter Poetsch quoted by Frankfurter Allgemeine Sonntagszeitung, the first quarter 2013 “will be […]