Volkswagen Earnings Slump 58% in 2003
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From Associated Press
German automaker Volkswagen said its profit fell 58% to $1.4 billion last year on sales that increased 0.2% to $112.4 billion.
The company has faced rough conditions in the North American market, where it has been reluctant to match fierce price cutting from General Motors Corp., Ford Motor Co. and DaimlerChrysler’s Chrysler division. A stronger euro also put pressure on profit margins.
From Associated Press
