As VW dealers cope with the coil broil, even asking their factory to send customers a $1000 “loyalty coupon” good on purchase of another VW or Audi model (refused as too costly), VW CEO Bernd Pischetsrieder issued a warning that the automaker’s profits would be reduced in the first quarter and the full year 2003 by market “uncertainties.” Redesigned Golf and Passat cars won’t be available in the U.S. until 2004, while the new compact Touran minivan introduced at the Geneva show isn’t expected until 2005 or 2006.
Adding to VW’s problems, Neumann agrees, are the Iraq war crisis and the growth of Asian competition in Europe, China and North America. The coil replacement campaign could cost as much as $83 million, analysts say, another vexation for Pischetsrieder, the one-time BMW CEO whose duties at VW prior to taking over the helm from Ferdinand Piech last spring included product quality. —Mac Gordon
2004 Volkswagen Touareg by TCC Team (10/7/2002)
Does a $68,000 SUV count as the “people’s car?"
FROM THE SOURCE headlines from the latest press releases
The 2003 Range Rover was named one of Automobile Magazine's "All Stars" in the March issue. The award itself was presented to Sally Eastwood, vice president of Marketing, Land Rover North America by Automobile Executive Editor, Mark Gillies at ceremonies held at the North American headquarters in Irvine, California. The 2003 Range Rover was recognized in the Large Sport-Utility Vehicle segment. In the article, Automobile said, "There have been luxurious sport-utility vehicles before, but the Range Rover is the first SUV that represents a true alternative to a luxury sedan."
|AMER AXLE & MANU||AXL||21.40||+1.15|
|BALLARD PWR SYS||BLDP||11.16||+0.75|
|FORD MOTOR CO||F||8.02||+0.52|
|HONDA MOTOR CO||HMC||18.21||+0.31|
|UNIT AUTO GRP||UAG||12.12||+0.48|