04/07/2008 23:42. HANNOVER (Thomson Financial) - Volkswagen AG truck unit VW Nutzfahrzeuge confirmed it has stopped plans to build a Pick-up truck for the European market given the high oil prices and prospects that such a model would not sell well.

A VW Nutzfahrzeuge spokesman -- who was confirming a report in the Hannoversche Allgemeine Zeitung -- said an analysis showed there is no sufficient market for such a vehicle with a huge loading space and given the high oil prices, the overall conditions for such a Pick-up has 'radically changed'.

The Pick-up was planned to be built at Hannover from 2010.

He said however VW is sticking to its plan for an open Pick-up, which would be built at VW's Argentinian plant in Pacheco and sold in emerging markets.

Last autumn, VW announced it would invest about... // Forbes

Total: 6 news articles
First News Article: Trading Markets, 04/07/2008 18:04