FRANKFURT (Reuters) - Volkswagen’s (VOWG_p.DE) finance chief said on Friday the German carmaker expected economic turmoil in emerging countries to decrease demand for cars, one reason the company’s 2014 outlook was cautious.
“We do believe that the measures taken by a number of these states to increase interest rates will have an impact on the economies of these countries and will also hit the total market volume-wise. That is one reason that we remain a bit on the cautious side,” Hans Dieter Poetsch told journalists and analysts during a conference call late on Friday.
Volkswagen earlier reported 2013 financial results and said its 2014 operating margin may come in between 5.5 percent and 6.5 percent, after 5.9 percent last year.
Reporting by Maria Sheahan; Editing by Lisa Shumaker