SAO PAULO — Volkswagen do Brasil is crediting its improved economic recovery in 2000 to its export business. The automaker's revenues totaled US$4.7 billion for the year, with exports of 115,000 vehicles to 31 countries bringing in US$1 billion. “We cannot yet announce any profits, but we expect to balance profits and losses in 2001,” says Herbert Demel, president of VW do Brasil. Exports, he says, were the best in 10 years, nearly doubling those in 1999 and were six times better than ...
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