Word: globalization
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Dates: during 2000-2009
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...Compared to its battered competition, VW is coasting through 2009, boosting its share of global car sales to 12% from 9.9% in the first half of the year. Yes VW's second quarter profits, released July 30, were down 83%, but have you seen the competition's numbers? The markets certainly like the look of the German firm: its stock price surged 5% the day the latest figures were released. "Even in a particularly difficult phase in the international automotive markets we were able to gain share in key markets. This has further improved our position...
...hard by falling sales in the U.S. and is closing a manufacturing plant in California, the first closure ever for the world's largest car maker. VW, meantime, is using the downturn to refocus its American efforts. It knows the U.S. market is key to any manufacturer with global ambitions and plans to boost sales there with what VW officials call their "Toyota killer" - a new mid-sized car specifically designed for the U.S. and meant to compete head-to-head with the popular Toyota Camry. The car will be produced in a new plant under construction in Tennessee...
...still trails Toyota and GM in global car sales, but its Japanese and American rivals have been hit harder by weakened consumer demand. Global car sales fell 18% in the first half of 2009. But the decline at VW was modest, with car sales falling just 5% to 3.1 million vehicles. Toyota sold 3.56 million vehicles, a decline of 26% from a year ago. GM, hot on Toyota's heels as the U.S. car maker emerges from bankruptcy, sold 3.55 million vehicles worldwide, down 22%. "VW is in a very strong position and has managed to ride out the economic...
...year-old Spanish worker and I belong to "Generation Disappointment" [July 20]. I have a badly paid job which does not fit with either my studies or my expectations. The global crisis has hit Spain especially hard but we should have seen it coming. The Spanish obsession with buying property has also helped to drive us where we are now. That is the reason why, unlike most people, my husband and I have decided to rent an apartment on the outskirts of Madrid. We are happy with our decision: it gives us more time to save for a mortgage...
...system stays the same. The need for simplicity has also forced Obama to stick with - indeed, to double down on - the current practice of having employers provide health insurance. This is the weakest, most illogical part of the system. It is difficult to sustain in a global economy where American corporations have overseas competitors that aren't saddled with providing health care for their employees...