VW has 500,000 Web transactions

WOLFSBURG, Germany - Volkswagen AG has completed more than 500,000 transactions on its private Web-based exchange this year. The exchange began operating in September 2000.

The volume of transactions is significant in that it is business that could have been directed to Covisint, an exchange founded by General Motors, Ford Motor Co. and DaimlerChrysler in February 2000.

Catalog purchasing, auctions and capacity management are the key functions of the exchange. It is accessed through the portal vwgroupsupply.com.

Audi, VW and all other brands in the Volkswagen group are using the exchange.

More than 5,500 VW suppliers already are using the exchange.

VW expects that nearly all of its $44 billion group procurement volume will be managed via the exchange in the future. The group includes Audi, Bentley, Bugatti, Lamborghini, Seat, Skoda and Volkswagen.

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