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Industry: Email Alert RSS FeedVW loses money on Fox; Strong Brazilian real, slow European sales hurt brand's bottom line.(Volkswagen AG)
Automotive News Europe, May, 2006 by Stein, Jason
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Byline: Jason Stein
Volkswagen is losing money on European sales of the Brazil-built Fox minicar because of the strengthening Brazilian currency.
The Brazilian real has climbed 35 percent against the euro since January 2005, making products from Brazil more expensive in Europe. Combined with slower than expected Fox sales in western Europe, VW's ability to protect its margins on the minicar is eroding. VW builds the Fox in two Brazilian factories near Sao Paulo.
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At its introduction, VW group Chairman Bernd Pischetsrieder said VW would make money on the first-generation Fox ...
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