Volkswagen Chief Financial Officer Hans Dieter Poetsch said some European competitors are at risk of going out of business without financial assistance as the region's auto market sinks with no end in sight to the downfall. "It is unclear if all carmakers will survive without governmental help," Poetsch said on the eve of the Paris auto show on Wednesday. "Carmakers in southern Europe that produce small cars will be especially affected."
Volkswagen doesn't expect a significant rebound in the European auto market over the next 1 to 2 years, group sales chief Christian Klingler told reporters at a round table at the Paris auto show on Wednesday.
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