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World car sales to fall 20 percent

By Matt Brogan |

Volkswagen chairman Martin Winterkorn has told a German newspaper, Suddeutsche Zeitung, that he expects world car sales will fall by as much as 20 percent next year.

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Mr Winterkorn also said the industry as a whole will have to confront painful changes and added that although he’s confident his own company would survive, he is expecting a fall in year-on-year sales of up to 10 per cent.

“The situation for us is not great but it is not radically bad”. Mr Winterkorn was quoted as saying, “The last few weeks have shown us that we were well prepared, but the same goes for us, we cannot go on like this”.

Company forecasts confirmed the group’s fears but as yet Volkswagen has no plan to reduce working hours in the company’s factories.


 
  • JasonP

    Salesman,

    That will surely mean that if people are buying cars, they’ll skew towards the cheaper ones?

    Are you gearing up for increased volumes at your dealership?

    Keeeee-ya!

  • JasonP

    Salesman,

    That will surely mean that if people are buying cars, they\’ll skew towards the cheaper ones?

    Are you gearing up for increased volumes at your dealership?

    Keeeee-ya!

  • Bavarian Missile ( . ) ( . )

    Going to be a hard year for ALL manufactures next year and I’m feeling sorry for the new designs they are unveiling that have been in the pipeline for years,wow what sort of reception are they going to get,certainly not the one they were hoping for when they first started the design work years ago. Looks like we can see some cheap cars next year in the show rooms and maybe some canceled un-veilings?

  • Andrew M

    Should be good for the 2nd hand market i say.

    New car boom killed the 2nd hand market, now the new cars are being pegged back, watch the sales shift back.

    The biggest boomers will be hurt most.