GOLDMAN SACHS: VOLKSWAGEN TO SUFFER EUR400MN LOSS IN CHINA IN 2005
AsiaInfo Services, April, 2005
AsiaInfo Services 04-22-2005 Goldman Sachs: Volkswagen to Suffer EUR400mn Loss in China in 2005 SHANGHAI, Apr 22, 2005 (SinoCast via COMTEX) -- Germany's automaker Volkswagen'sshare in the Chinese market had fallen from 29% last year to 11% in the first two months of this year, the world's well-known investment bank Goldman Sachs stated. Moreover, a report released by the investment bank showed the automaker will have to incur EUR 400 million (EUR 1 = CNY 10.83) of losses in its China operation this year. However, the company was unwilling to make comment on above mentioned data. Spokesperson from Wolfsburg-based Volkswagen headquarters announced that they would post the first fiscal quarter report on April 20, ahead of the schedule. President of the group...
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