| It should be noted that last year Volkswagen has | | | | costs. |
| shed 6% off its workforce and reached a | | | | Hans Dieter Poetsch, Volkswagen CFO said during |
| five-day week agreement with its German | | | | the annual conference, the 2006 profit growth |
| workers. Europe's largest automaker and maker | | | | was the result of the euro climbed against the |
| of Volkswagen tail lights, is planning to roll out 28 | | | | Japanese yen putting it in a "massive competitive |
| new models of which includes a new version of | | | | disadvantage" against the like of Toyota Motor. |
| the Golf which would hopefully drive sales growth | | | | He also stated that the 2007 operating profit |
| up. | | | | before special items will rise, stressing the fact |
| According to Martin Winterkorn, "Innovative | | | | that the company has already sold 8% more |
| products, competitive costs, productive processes | | | | vehicles just for the first two months of this year |
| and an aggressive position in the markets will | | | | compared to the same period in 2006. |
| enable us to put the company on an even better | | | | Europe's largest automaker has also said that |
| footing and demonstrate that we are well | | | | revenue will improve more than the 12% growth |
| equipped to master the future." | | | | or 105 billion euros that company has obtained last |
| Volkswagen is also expecting for a 2008 pretax | | | | year. Volkswagen will focus on building its market |
| of at least 5.1 billion euros or $6.7 billion USD. The | | | | in Russia and India for this year. Actually such |
| German-based automaker also said last month | | | | forecast was made during the time of former |
| that it gained in 1.79 billion euros in profit before | | | | VW CEO Bernd Pischetsrieder whom Chairman |
| tax from its 2006 operations. But according to | | | | Ferdinande Piech pressured to step down. He was |
| analysts by Thomson Financial, the 2008 pretax | | | | replaced by Martin Winterkorn who is known as |
| profit for Volkswagen will reach 4.83 billion euros | | | | the favorite protégé of Chairman |
| only. | | | | Piech. |
| Last Friday Volkswagen shares have increased by | | | | After the ousting of Pischetsrieder, Piech have |
| 2.7% in late afternoon trading. In the year 2006 | | | | collaborated with his union allies that sits on the |
| VW's operating profit before special items have | | | | supervisory board to employ cost-cutting |
| improved by 52% to 4.4 billion euros and after | | | | measures which many analysts sees won't be |
| increasing selling 9% more than last year and add | | | | sustainable. |
| to it the significant reduction in its production | | | | |