| Amidst the less enthusiastic sales of the | | | | of quality Volkswagen catalytic converter, had not |
| Volkswagen brand in the U.S. this year, the | | | | done very well in the United States up to now, |
| German automaker has decided a reshuffle in its | | | | and said that the company was hoping that |
| top management. Volkswagen has already lost | | | | planned new offices away from Detroit, the |
| $827 million in North America last year. | | | | centre of U.S. auto manufacturing, would bring it |
| Stefan Jacoby, 49, who has earlier headed global | | | | closer to U.S. consumers. |
| marketing and sales for the VW group, will | | | | Volkswagen currently has only one factory in |
| become president and CEO of Volkswagen of | | | | North America, in Puebla, Mexico. The plant |
| America starting September 1. "The objective is | | | | manufactures the Volkswagen Jetta and New |
| to achieve further significant expansion in the | | | | Beetle cars as well as buses and trucks. |
| position of Volkswagen and Audi on the U.S. | | | | Volkswagen would produce more than 6 million |
| market through attractive and competitive | | | | cars this year, up from 5.7 million in 2006, |
| products," VW said in a statement Thursday, last | | | | Winterkorn said. A goal of 10 percent higher |
| week. | | | | productivity was attainable this year, he added. |
| Jacoby is a former CEO of Mitsubishi Motors | | | | The euro is near an all-time high against the U.S. |
| Europe. As future CEO of VW of America, he will | | | | dollar and Japanese yen, making it difficult for |
| succeed Frank Witter, 48, who is moving to | | | | European-made cars to compete with those |
| Volkswagen Credit, where he will become | | | | produced in the United States and Japan and |
| co-president, sharing the post with Kevin Kelly, 60. | | | | causing concern among some euro-zone politicians. |
| The news comes after the media has reported | | | | About Volkswagen of America |
| that the German automaker and world's | | | | Founded in 1955, Volkswagen of America, Inc. is |
| fourth-largest carmaker is currently mulling over | | | | headquartered in Auburn Hills, Michigan. It is a |
| building a new North American factory if the dollar | | | | subsidiary of Volkswagen AG, headquartered in |
| stays weak. Chief Executive Martin Winterkorn | | | | Wolfsburg, Germany. Volkswagen is one of the |
| reportedly confirmed plans in an interview | | | | world's largest producers of passenger cars and |
| Saturday with German magazine Focus, saying, "If | | | | Europe's largest automaker. Volkswagen sells the |
| the dollar stays at its current level, one has to | | | | Rabbit, New Beetle, New Beetle convertible, GTI, |
| consider a factory in North America very | | | | Jetta, GLI, Passat, Passat wagon, Eos, and |
| seriously." | | | | Touareg through approximately 600 independent |
| Winterkorn also added that Volkswagen - maker | | | | U.S. dealers. |