Real-Time Quote
US News
Page 1 of 2 | Next Page
Show Entire Article

VW Adds Jobs, Raises Expectations for Sales in US
CNBC.com | March 22, 2012 | 12:23 PM EDT

After years of fumbling to find its way in the U.S., Volkswagen has hit its stride and is ramping up production to keep pace. The German automaker is hiring 800 workers and adding a third shift at its plant in Chattanooga, TN. The expansion means Volkswagen will hire 1,000 workers in Tennessee by the end of this year.

“This is really another phase of VW’s growth strategy in the U.S. part of an overall $4 billion investment program, new plant, new products, new infrastructure,” said Jonathan Browning, CEO of Volkswagen of America.

The expansion is needed to keep up with soaring demand for the new Volkswagen Passat.

The redesigned mid-size car has been a huge hit since its introduction last year. Browning thinks Passat and auto sales overall will continue to move higher this year. “We believe there is some good momentum. Consumer confidence is coming back into the car buying sector,” said Browning. “This is a great time with high residual value, low interest rates and some great new products.”

Page 1 of 2 | Next Page
Show Entire Article
Real-Time Quote
omniture pixel