- Apple Profit Tops Forecasts on Strong iPhone Sales
- Singapore Sovereign Wealth Fund Loses New CEO
- AMD Posts Wider-Than-Expected Loss; Shares Tank
- Earnings on Crash Diet of Cost-Cutting, Weak Revenue
- Happy Days Are Here Again, Or Are They?
- Starbucks Profit Tops Expectations; Shares Soar
- Caterpillar CEO: Credit Access Is Coming Back
- Cramer: And the Oscar Goes to ... Bernanke
- States Handing Out the Most Welfare Checks
- Apple Wallops Wall Street
- Morgan Stanley Earnings Preview: What to Expect (Video)
- Apple On Deck for Another Dinger?
- How Will You Spend Your Furlough?
- Watergate is a Steal
- So Much For That 'Watson Bump'
- Expect Apple to Report Strong Earnings: Strategist
- Stock Strategy: Techs That 'Trade Beautifully'
- Pros Say: Recession Will End in 1-2 Quarters
- Kohler Co. sues American Standard over trademark
- Health bill a boon to doctors
- Do Obama’s deals with hospitals break pledge?
- Iron ore shipments dwindle in Duluth-Superior
- Inspectors say Pentagon didn’t break war rules
- FEMA: Time running out for ND disaster aid
- AP Interview: NRC to press ahead with Yucca review
- New resort owners file lawsuit over Tropicana name
- Natural gas vehicle research bill passes House
Volkswagen to make new compact sedan in Mexico
Text Size 
MEXICO CITY - Volkswagen says it will begin manufacturing a new compact sedan at its plant in Mexico, with a launch date of 2010.
Volkswagen's head of Mexico operations, Otto Lindner, says engineers are developing the model.
Lindner made the announcement Monday at the automaker's plant in the city of Puebla. He said Volkswagen will invest $1 billion to increase plant capacity, modernize production lines and develop and produce the new model.
He did not give details about the vehicle.
President Felipe Calderon called the announcement "a reason to be happy for Mexico" and its auto industry, which has been hit hard by sagging demand from the U.S. amid the economic crisis.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Print
Email
Data is a real-time snapshot *Data is delayed at least 15 minutes