VW posts record gains despite uncertainty in western Europe
Car manufacturer boosted by performance in China, the US and Russia
By CFOWorld.co.uk | CFO UK | Published 09:00, 13 April 12
Volkswagen sales in western Europe declined, but growth in other markets led to record gains in the first quarter, it announced on Friday.
Europe's biggest car manufacturer said growth in North America, China and Russia offset uncertainty in western Europe.
China was the company's biggest market and it posted a 15.6 percent gain to 633,900 units while sales in western Europe excluding Germany dropped 4.7 percent to 507,100 autos.
Overall, sales of brands including luxury division Audi and Czech mass market manufacturer Skoda increased 9.6 percent in the first three months of 2012 to 2.16 million units. Deliveries in March alone rose 12.5 percent to a record 862,700.
Deliveries of passenger cars and sport-utility vehicles gained 24.5 percent in North America with deliveries in the United States alone surging 34 percent.
"Uncertainty continues particularly on the markets in western Europe," VW sales chief Christian Klingler said in a statement published on Friday.
This comes the same week BMW reported record growth.
Photo credit: Reuters
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