VW Sales Soar...Saab Sales Dropping

05/03/96

Volkswagen first quarter revenues hit a record $16.1 billion on unit sales of 946,915 vehicles. Net income rose from $9 million for this period last year to $76 million. However just down the continent at Saab the revenue picture is bleak as the maker of 900 and 9000 sedans posted a loss of $52 million for the first quarter. Unit sales dropped 12% to 22,400 from 25,500 last year. Saab blames this situation on heavy spending for new product development.

Bill Maloney -- The Auto Channel