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Business

VW Unveils New Generation of Golf

German car manufacturer Volkswagen has revealed the long-awaited new series of its much-loved Golf. The new model, which is the fifth generation of VW's most popular car, will be wider and higher than its predecessor, launched back in 1997. As the Wolfsburg-based company struggles with slumping sales figures, there are high hopes among both management and employees that the new model will bring about a turn in VW's fortunes. Company bosses are aiming to sell some 135,000 models of the new car before the end of the year, and are predicting the sales of 600,000 in 2004. But with production still in the early stages, and the first examples of the new model not scheduled to hit the salesrooms until October, it will likely be spring before Volkswagen starts to see the returns needed to put an end to its two years of financial woes.