VW invests $900M at U.S. plant

|By:, SA News Editor

Volkswagen (OTCMKTS:VLKAY) is investing $900M in its manufacturing plant in Tennessee to start production for a mid-sized SUV.

U.S. VW sales have dropped 7% in 2013 and fell another 13% in the first half of 2014 despite growing overall market sales.The company is now trying to retrieve its U.S. market share.

"I admit that we may have dedicated too much time to China, Brazil and other states because the U.S. appeared to be working extremely well," says CEO Martin Winterkorn. "That's why we want to adjust things now."