Volkswagen's trucks division stuck in loss in 2004

WOLFSBURG, Germany - German auto giant Volkswagen said Friday that its commercial vehicles division, Volkswagen Nutzfahrzeuge, remained entrenched in loss last year, but hoped to steer itself back to profit "soon".
VW said in a statement that its trucks division booked operating loss of 142 million euros (186 million dollars) in 2004, nearly half the year-earlier loss of 246 million euros.
Europe's biggest car maker put the renewed loss down to heavy investments in modernising the division's manufacturing facilities and upgrading its product range.
Sales in the division were up 29 percent at 5.85 billion euros.
Division chief Bernd Wiedemann said: "Our aim is to return to profit soon. We're on the right road."

03/04/2005 12:58 GMT