Almost every major car company in the world lost money in the latter part of 2008 and most are projected to lose money in 2009. The industry's struggle with low sales due to the recession has caused GM and Chrysler to go under. Even the largest and by many measures most successful auto firm in the world, Toyota (TM), has struggled.
Volkswagen has done better than its peers. The largest car company in Europe expects to have a good Q2. "We will surely end with a positive result," VW's chief financial officer Hans Dieter Poetsch toldReuters, referring to the second quarter.