Bloomberg, 1/25/2013
Volkswagen AG (VOW), Europe’s biggest carmaker, plans to build its best-selling Golf hatchback in Mexico in a push for market share in North America, where it trails competitors. The preferred shares hit a 20-year high.
“With its existing infrastructure, competitive cost structures and free-trade agreements, Mexico is the ideal location to produce the Golf for the American market,” Hubert Waltl, the head of production at VW’s passenger car brand, said in a statement dated today and obtained by Bloomberg News.
