Author Topic: Volkswagen's Spanish unit SEAT cuts production  (Read 1987 times)

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Offline rambo_005

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Volkswagen's Spanish unit SEAT cuts production
« on: October 04, 2008, 03:11:16 pm »
Volkswagen's Spanish unit Seat cuts production
PARIS, Oct 3 (Reuters)

Volkswagen's Spanish unit Seat unit will cut production by 5 percent starting in November following a deep plunge in its core domestic market, the company said on Friday.

A corresponding agreement that for the moment lasts until the middle of next year was reached with its unions.

Spanish new car sales have fallen sharply this year, dropping 40 percent in August alone, and little improvement is expected due to a real estate crisis.

"(It) did not look much better," a spokesman for Seat said, when asked about the month of September.

Seat has been a chronic loss maker for VW in the past.

Source:
http://www.reuters.com/article/rbssConsumerGoodsAndRetailNews/idUSWEA189620081003
« Last Edit: October 04, 2008, 03:20:41 pm by rambo_005 »
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