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Volkswagen eyes "strong" second quarter after weaker Q1 - CFO

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(Globalpost/GlobalPost)

BERLIN (Reuters) - Volkswagen <VOWG_p.DE> expects a "strong" second quarter and is bracing for the first three-month period to be weaker compared with 2012 results, Finance Chief Hans-Dieter Poetsch said at the company's annual press conference on Tuesday.

New models and growing savings from implementation of a major engineering overhaul called MQB will help VW's second-quarter performance, the CFO said.

VW's loss-making Spanish division Seat will remain "a firm part" of the German multi-brand group, purchasing chief Francisco Garcia Sanz said at VW's base in Wolfsburg.

The manufacturer has been "unable to extricate" itself from growing price pressures, especially in the core European market where VW sells a third of its vehicles, sales chief Christian Klingler said, declining to be more specific.

(Reporting by Andreas Cremer)

http://www.globalpost.com/dispatch/news/thomson-reuters/130314/volkswagen-eyes-strong-second-quarter-after-weaker-q1-cfo