Volkswagen AG’s financial performance in 2002 fell below initial expectations. The company’s net profits dipped 11% to €2.6 billion ($2.78 billion) from a much-ballyhooed €2.9 billion ($3.10 billion) in 2001. Total revenue for the VW Group fell 1.8% to €86.9 billion ($92.3 billion) from the €88.5 billion ($94 billion) level reported in like-2001. Total vehicle deliveries slipped from 5.1 million in 2001 to 4.98 million in 2002. Return on sales dropped from the benchmark 5% to 4.6% during ...
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