Volkswagen Plans Investment Boost In US To Up Sales

NEW YORK February 10, 2003; Dow Jones reported that the Financial Times reported on its Web site Monday that Volkswagen AG is preparing to invest more than $107 million by the end of 2003 to build or improve U.S. car showrooms in order to increase new model sales.

Volkswagen will pay $600,00 at each of 310 sites for new construction and improvements as it moves towards its goal of making the U.S. its second-largest market after China, the company said, according to the report.

The report quoted Volkswagen chairman Jens Neumann as saying in an interview that the company wanted to increase its U.S. sales to 355,000 this year.