Despite a tough situation at home, the Volkswagen Group continues to power ahead in the global markets. Volkswagen increased its global sales by 14.6 percent in October. For the year, Volkswagen delivered 7.5 million units worldwide, up 10.2 percent. In China, Volkswagen is nipping at GM’s heels, but does not seem to be able to overtake the General.
The battered European new car market continues its drive into the netherworld, but the speed of descent has lowered a little. According to data compiled and released by the European manufacturers association ACEA, 959,412 passenger vehicles were registered in October, 4.8% less than in October last year. It looks like the year will end with some 12 million cars sold, a level the EU 27 hasn’t seen since it existed. (Read More…)
GM shows new vigor in its largest market China. October sales across all of GM’s Chinese joint ventures were up 14.3 percent on an annual basis. The Chinese market is of increasing importance for GM. In the first 9 months of the year, 30 percent of GM’s global sales were in China, trailed by the U.S. with 28 percent of GM’s global business. (Read More…)
Germany’s new car market was up 0.5 percent in October. What looked like bucking the European downtrend was quickly discounted by market observers who noted that October had two more working days than October last year. Taking this into account, Germany is down with the rest of Europe. Meanwhile, sales in France dropped 7.8 percent, and those in Spain are down a gutwrenching 21.7 percent. (Read More…)