Word: volkswagens
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...canals. In all, at least 500,000 people are expected to live in Shanghai's seven new satellite towns, each designed in the style of a different Western nation. Zhou Jin, an executive currently residing in Shanghai, will soon move into a $67,000 apartment in Anting, where a Volkswagen factory reinforces the German motif. "Life in such an exotic atmosphere will be fun," says Zhou...
...impact on America. The reason is overcapacity. Although executives in Detroit would drink windshield-wiper fluid through a straw for the roughly 15% growth in car sales that China saw last year, in China that increase might be too slow to keep up with production. Foreign firms like GM, Volkswagen and Ford have invested billions of dollars in China to make far more cars than the market can absorb. Last year Chinese consumers bought about 2.2 million cars, and assembly lines in China should be able to make up to 8 million vehicles a year by 2010, even though...
...three days a month on the company's factory floor. Bernhard's innovations paid off: the company was the only U.S. carmaker to pick up market share this year. But when Bernhard opposed giving the troubled Mitsubishi unit an injection of $2 billion, he found himself without a job. Volkswagen quickly offered Bernhard a high-powered encore: as chairman of the company's VW brand. That will effectively make him No. 2 at Europe's biggest automaker when he settles into the new job over the next 12 months. Volkswagen, which is projected to lose $1.2 billion...
...Paris anymore," says an aide to Li Dongsheng, TCL's chairman. Shanghai Automotive, for its part, hopes that its Rover purchase will compensate for its troubles at home, where Shanghai Automotive has had to cut prices on its top-selling Santana?the product of a joint venture with Volkswagen?by 30% this year...
...needs more than two big suppliers. Collision Courses Automaker General Motors said that over the next two years it would shed up to 12,000 jobs at its European operations, mostly in Germany - almost one-fifth of the staff. Meanwhile, the European Commission formally challenged a German law shielding Volkswagen from hostile takeover...