2023 Author: Eric Donovan | [email protected]. Last modified: 2023-11-27 05:39
Volkswagen will continue to manufacture the Passat intended for the US market in Germany. Despite high losses due to currency fluctuations, production in Mexico is not an issue, according to Wolfsburg.
Despite the persistently strong euro, Volkswagen has no plans to build the important Passat model for the US market in Mexico. A VW spokeswoman in Wolfsburg rejected a report in the industry newspaper “Automotive News Europe” on Monday. This had reported that VW no longer wanted to build the Passat models intended for sale in North America in Germany, but at the VW plant in Mexico. The Passat is built at the Emden plant, among others.
High exchange rate losses
VW production manager Reinhard Jung had told the newspaper that Volkswagen could “no longer simply ignore” the exchange rate costs. The VW spokeswoman said that Jung had "only" emphasized that measures would be taken on the dollar-euro exchange rate. As an example of so-called natural hedging, he cited the models produced in Mexico such as the New Beetle and Jetta.
Natural hedging means "natural hedging". By producing cars in the dollar area, car manufacturers make themselves less dependent on currency fluctuations. VW had posted high losses in the important US market. The Passat is a VW hope for America.
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