VW says aims to break even in Brazil in 2004

Newswire

FRANKFURT, July 25 (Reuters) - Europe's biggest carmaker, Volkswagen AG , said on Friday it aimed to break even in Brazil next year. "The market in 2003 as far as Brazil is concerned is the worst market the auto sector has seen in the last 10 years," VW's incoming finance chief Hans-Dieter Poetsch told a conference call. "For 2004 we aim to at least break even in Brazil." The group said earlier this week it would slash nearly 4,000 jobs in Brazil in an effort to counter weak demand.

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