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VW predicts recovery in Brazil and announces major investment

05/12/2016
VW predicts recovery in Brazil and announces major investment
The chief executive of Volkswagen’s commercial vehicle manufacturing division in Brazil (Volkswagen Truck & Bus, or Caminhões e Ônibus), Andreas Renschler has met the president of Brazil, Michel Temer, to brief him about new investment. It has announced what it is calling the largest investment package that the commercial division has ever had in the South American country.

Volkswagen Truck & Bus’s Brazilian commercial vehicle brand is set to plough around €420 million over the next five years into “the steady renewal” of its product portfolio, modernisation of its plant in Resende, in the state of Rio de Janeiro, and the development of its “connectivity services”.

After meeting the president and announcing the investment package, Andreas Renschler said: “We believe, despite the current market situation, that Brazil is an important market for trucks and buses. It has always been a key market and it will be again. I am confident that the Brazilian economy has bottomed out and will recover again in the next few years. The entire Latin America region plays a major role in our growth strategy.”

He went on to make the point that German companies “think long-term”, saying that companies from Germany may not be the first to venture into new markets, but that once they are there, German investors “persevere in difficult times too”.

Image shows Andreas Renschler (left) and Brazil’s president, Michel Temer.


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