In preliminary financial reports released this week, Volkswagen AG says its net profits fell 31% in 2004, a result of the weak U.S. dollar, lower demand in China and higher costs from key product launches and development plans. The German auto maker says net profits ended the year at €677 million ($877.3 million), down sharply from €980 million ($1.27 billion) reported in 2003. Overall revenues, meanwhile, were up 5% to €89 billion ($115.6 billion). The success of the auto maker’s ...

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