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Cuts - China - VW to cut costs at mainland ventures
Beijing,China -Beijing Time, by Zhu Yanyan & Jin Jinge -18 Oct 2005: -- German auto giant Volkswagen AG announced a restructuring program that will suspend expansion and start massive cost reductions at its Chinese mainland operations... Volkswagen has been losing ground to an influx of rival automakers... Volkswagen plans to reduce costs up to 40 percent by increasing local procurement of raw materials... The company also said it would cease expanding capacity on the mainland through 2008. The capacity of its two ventures stands at 450,000 units annually...
posted by Unknown @ 4:14 PM
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