You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Peoples Bancorp reports 32% quarterly earnings gain
    Peoples Bancorp today reported second fiscal quarter earnings of $745,652, or 32 cents per diluted common share, a 32 percent hop from the $565,042, or 24 cents a share, posted for the prior year’s second fiscal quarter.
  • German company investing $4.5 million in Columbia City facility
    DOT GmbH, a medical coating technology provider, is investing $4.5 million to lease, renovate and equip a building in Columbia City’s Blue River Industrial Park, state officials said Thursday.
  • Big achievements net Athena award
    Throughout her life, Josette Rider has been surrounded by inspirational men.“Those who know me also know that I have six brothers, 10-plus uncles, 20-plus nephews and two boys,” Rider said. “So I know men.
Advertisement

VW replaces head of struggling US unit

– Automaker Volkswagen is replacing the head of its U.S. division, which has struggled to reach sales goals.

The company announced last week that Jonathan Browning, 54, was leaving his job as president and CEO of Volkswagen Group of America “for personal reasons and returning to the U.K.”

His replacement is Michael Horn, 51, the company’s global head of after-sales service, repair and components. Horn was formerly head of sales for Europe.

Through November, U.S. sales for the Volkswagen brand have fallen more than 5 percent to just under 374,000, while the overall market has grown more than 8 percent.

This year’s decline came after VW sales skyrocketed more than 30 percent in 2012. But it has lagged this year as overall U.S. sales increased.

The company’s top-selling models weren’t able to match up to those of other automakers in two of the most highly competitive segments of the industry. Sales of the compact Jetta sedan fell 4.4 percent, while Passat midsize sedan sales declined 2.1 percent through November, according to Autodata Corp.

Analyst Thomas Libby at IHS Automotive said that after strong launches of redesigned Passat and Jetta models in the U.S. market, Volkswagen had taken a break in updating its offerings.

“There is general agreement that new product is a major factor in performance in the U.S. market, and VW has had a dearth, a pause, in product launches,” he said.

Advertisement