Volkswagen is working on developing developing a new entry-level model to replace the Brazilian-made Fox in western Europe. Automotive News is reporting that the Volkswagen Fox has been costing the company $1,300-plus per car in exchange-rate losses.
Volkswagen started exporting the Fox minicar to Europe in 2005 in order to replace the Lupo, but the exchange rate of Brazil’s currency against the Euro has also made the Fox a money loser.
Hey Volkswagen, why not bring the Fox to the US and have it compete against the Honda Fit and Toyota Yaris?
[tags]Cars, Car, Auto, Automobile, Vehicles, Technology, Auto News, News, Volkswagen[/tags]