Word: volkswagen
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...fourth largest car market in the world, behind the U.S., Japan and Germany. But unlike the more mature markets of the top three, China has more than 200 carmakers, ranging from creaky communist-era holdovers and former washing-machine manufacturers to modern joint ventures run by the likes of Volkswagen and General Motors. Most have responded to the growing demand with massive capacity expansion. Accounting firm KPMG predicts that within two years China will be able to build 4.9 million sedans a year--roughly the output of Germany--and will outstrip even China's fast-growing demand by 2.3 million...
These homegrown carmakers will have to compete with multinationals like General Motors, Ford, Toyota, Volkswagen and Citroen, all of which have invested heavily in Chinese joint ventures and are muscling for market share. GM, which has made Buicks in China since 1999, will soon launch top-of-the-line Cadillacs and plans to increase total production 50% in the next two years. In a first for the country, Beijing recently announced it will allow GM to import cars made overseas without going through a Chinese partner. Ford plans to increase production sevenfold, to 150,000 cars a year. Volkswagen, maker...
...reverse gear Volkswagen cut its dividend for the first time in more than 10 years, after stalling sales, restructuring and start-up costs pushed down profits at Europe 's biggest automaker...
...rash of complaints?" says Ryanair's head of communications Paul Fitzsimmons. "Yes." O'Leary had better fasten his seat belt. Showroom Showdown Despite hopes for an upturn, European car sales remain stalled. The manufacturers' response? Slash prices. Less than four months after it launched its new flagship Golf, Volkswagen last week announced it is throwing in free air-conditioning, the equivalent of an 8% discount on its base model. The move follows a 31,085 rebate offered by GM's Opel to early buyers of its new Astra, which is set to launch in March. In the U.K., many dealers...
...find out how the first generation of HD radio sounds, I took a ride in a Volkswagen Passat equipped with a Kenwood radio and a KTC-HR100, a $500 tuner about the size of a paperback book. The KTC-HR100, due out in January, will be the first HD-radio tuner. In March JVC and Panasonic plan to sell radios with the HD tuner built...