DETROIT -- Volkswagen of America Inc. will lose nearly $1.3 billion this year due to the weak dollar and its aging product lineup in the United States, according to Bernd Pischetsrieder, VW AG's chairman.
Pischetsrieder disclosed the anticipated loss from the VW's U.S. operation in story published in an Italian newspaper, Il Sole. Steve Keyes, spokesman for VWoA, confirmed the anticipated 2004 financial loss. The number comes from VW CFO Hans Dieter Pötsch, Keyes says.
The anticipated loss of $1.3 billion encompasses both the VW and Audi brand sales in North America. That represents a loss of about $2,878 per vehicle, based on combined VW and Audi sales through October this year.