Date:         Mon, 22 Dec 2003 14:17:29 -0700
Reply-To:     gary2a@TELUSPLANET.NET
Sender:       Vanagon Mailing List <vanagon@gerry.vanagon.com>
From:         "G. Lee" <gary2a@TELUSPLANET.NET>
Subject:      Re: (NVC) But my comments on the concept Microbus..., now Phaeton
Content-Type: text/plain; charset="iso-8859-1"

>I was at the VW dealer yesterday looking at a used
>Eurovan and saw a new $88K VW Phaeton. Nice car, but I
>don't know how many people willing to spend that kind
>of $$$ on a car would even think to look at a VW
>dealership.

I read this morning that VAG is planning on writing off "several hundred
million" euros of investment in the Phaeton. Apparently they have only sold
6000 Phaetons this year, half the original target and below the revised
target of 7200 units.  Next years target has been lowered from 20,000 to
15,000 units.

VW has been "... reeling from a US$1.5 billion hit to profits from the
strong Euro and the cost of relaunching many of it's models".
There have also been problems with the launch of the new Golf model.
Source: Financial Times

VAG remains Europe's largest motor vehicle manufacturer.

Gary Lee
http://www.telusplanet.net/public/gary2a/rack/vanagonrack.htm