Germany Media: Volkswagen Cuts Back. No Threat For GM
Volkswagen’s plans of sending GM to place three on the podium of the world’s largest automakers are most likely postponed. Volkswagen down-revised its 2012 sales plan by 300,000 units, heard Germany’s Handelsblatt.
Most of the reductions, 250,000 of them, go on account of moribund Europe. Reuters called Volkswagen for a comment, but did not receive one.
According to information by the Handelsblatt, Volkswagen had planned for 9.7 million units for 2012. This would be far ahead our straight-line projection for Volkswagen, which called for 8.9 million. Now, Volkswagen budgets for 9.4 million, probably not enough to unseat GM from its expected second place behind Toyota.
As expected, Volkswagen now consolidates the Porsche numbers, which our projection did not do.