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VW On Incentives -- Sour Grapes? Posted by Ian Glenday [Email] (#95) [Profile/Gallery] (more from Ian Glenday) on Wed, 2 Apr 2003 22:54:54 Members do not see ads below this line. - Help Keep This Site Online - Signup |
VW CEO Criticizes U.S. Rivals
For Their Aggressive Incentives
By NEAL BOUDETTE
Staff Reporter of THE WALL STREET JOURNAL
WOLFSBURG, Germany -- The chief executive of Volkswagen AG on Wednesday criticized the aggressive sales incentives offered by U.S. car makers, saying they "deceive" customers in the long run.
Speaking to reporters at an auto-industry conference here, Bernd Pischetsrieder said heavy discounts and loan financing on new cars undercut the resale value of used vehicles. Many customers buy cars based on their expected resale value.
"We are not going to do it," he said, referring to the discounts.
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_______________________________________ Ian 1959 93b 1967 96V4 1968 99 1974 99L 1988 900S 1988 900 1994 900S 1996 900S 1999 9-5SE, 2.3lpt 1995 9000 CSE 2006 9-3SC, 2.0T
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