JULY 14, 2001
European car demand slackens
VOLKSWAGEN AG has announced that it will shut down its giant Wolfsburg factory for three weeks this summer because of a slowdown in demand for its cars. This has not happened for three years and is an indication that inflation and fears of a recession are making consumers much more cautious.
The news comes at a time when F1 teams are busy organizing their budgets for 2002 and industry analysts say that the money supply in F1 is also beginning to slacken with a significantly lower amount of money around this year than last. This does not however seem to have had any real effect on the F1 circus.
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