VW confirms stoppage of plans to build a Pick-up for European market

        HANNOVER (Thomson Financial) - Volkswagen AG truck unit VW Nutzfahrzeuge
confirmed it has stopped plans to build a Pick-up truck for the European market
given the high oil prices and prospects that such a model would not sell well.
    A VW Nutzfahrzeuge spokesman -- who was confirming a report in the
Hannoversche Allgemeine Zeitung -- said an analysis showed there is no
sufficient market for such a vehicle with a huge loading space and given the
high oil prices, the overall conditions for such a Pick-up has "radically
changed".
    The Pick-up was planned to be built at Hannover from 2010.
    He said however VW is sticking to its plan for an open Pick-up, which would
be built at VW's Argentinian plant in Pacheco and sold in emerging markets.
    Last autumn, VW announced it would invest about 223 million euros in Pacheco
as part of plans to build there the "Pick-up Robust" from 2009.
    The annual unit production of Pick-up Robust is planned at 90,000 units.
     
    
marilyn.gerlach@thomsonreuters.com
dpa/mog/am

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