Word: skoda
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...Reports, which recommended three VW models in the late 1990s, keeps only the pricey Passat on its list of recommended cars. That's quite a tumble for the Volkswagen Group, Europe's largest automaker, which turns out 5 million units a year under brands including Audi, Bugatti, Seat and Skoda...
...three VW models in the late 1990s, now only keeps the Passat on its list of recommended cars. That's quite a tumble for Europe's largest automaker, which employs 332,800 people worldwide and manufactures some 5 million units a year, including the brands Audi, Bugatti, Seat and Skoda. Those quality issues are also raising concerns about VW's hold over the North American market - the largest and most vibrant in the world and one critical for VW's profit growth. While VW is holding its own in Europe's anemic market - the VW group has an 18% market...
...Golf will take on a new Opel Astra, which launches early next year, and faces formidable foes in the Peugeot 307, Renault Mégane and Mazda's upcoming Mazda3. Analysts say the Golf already loses sales to other VW brethren, such as the Audi A3 and models from Skoda and Seat. Japanese and Korean automakers are cutting into VW's core segment: compacts. In a European market down 1.5% this year, Honda's sales are up 7.4%, almost entirely thanks to its new Jazz subcompact. Hyundai, with sales up 10.8%, boasts a European market share...
...Ferdinand Porsche, who founded the legendary sports-car company. Under Piëch's command, VW has become Europe's biggest carmaker and fourth-largest in the world in terms of autos sold. He has expanded its car business by successfully integrating new brands such as SEAT and Skoda. And Piëch has added some boutique carmakers like Lamborghini and Bugatti to give the company, which also includes Audi, some additional cachet. Under Piëch, Volkswagen commands 51% of the car market in China and 25% of sales in Brazil. Perhaps most important is what...
...effort to address some of these concerns, the company decided to reorganize into two groups. SEAT and Lamborghini will be part of the new, sporty Audi group. The more traditional Skoda, Bentley and Bugatti will fall under the Volkswagen brand. "This will support corporate transparency and our customers' and shareholders' interest in the company," VW said when the restructuring was announced last year. In fact, for a high-volume manufacturer, VW had a pretty good year in 2001. Return on sales was a robust 5%, about the same as Peugeot, but behind BMW's 7% and Porsche's double digits...