Speaking of German car companies doing exceptionally well despite a tanking German car market, there is of course Volkswagen.
The Volkswagen group sold more than 3.5m units worldwide in the first six months of 2010, besting the pretty darn good numbers of the same period in 2009 by about 15 percent, Martin Winterkorn said to Reuters. He predicts (and that’s an easy call based on the half year results) that the Volkswagen group will see record car sales in 2010. What’s driving the new Wirtschaftswunder? The weak Euro, of course. And the strong position of Volkswagen in boom markets such as China.
Nevertheless, VW doesn’t want to rely on the vagaries of the foreign exchange. (Read More…)