Magna To VW: All Is Forgiven, Come Home, We Need You
When Magna was buying Opel (along with German help and alleged Russian mobsters) Volkswagen made noises about dumping them as a supplier. Vergeben und vergessen.
“If Magna doesn’t act like a competitor, we will continue to do business as usual,” a Veedub spokesman told German tabloid BILD (via Reuters.)
Now is not the time for VW to switch suppliers anyway.
VW has its hands full. “Strong demand in China and Germany last month triggered a double-digit growth rate in group sales volume that wiped away the last signs of weakness from the start of this year,” writes Reuters. Volkswagen delivered 557,300 vehicles in October across its eight car brands, a rise of 11.1 percent.
VW sales chief Detlef Wittig warned not to read too much into this bit of news. “Global passenger car markets have not made a sustained recovery yet, so we are anticipating a particularly difficult and challenging year in 2010.” The auto market in VW’s homeland is expected to drop by 25 percent as the nation goes into Abwrackprämien-withdrawal.