Volkswagen Sees No Sign of Car-Market Recovery |
| Bloomberg - Jun 12, 2009 |
Volkswagen AG, Europe’s largest automaker, said “very weak” global car markets aren’t yet recovering, even as the company’s sales rose in May for the first time in eight months thanks to government incentives.
Deliveries at Volkswagen’s namesake brand increased 10 percent to 351,000 cars and sport-utility vehicles in May from 318,500 a year earlier because of gains in Germany and China, the Wolfsburg, Germany-based company said today in a statement. Declines at the Audi, Seat and Skoda divisions narrowed the group increase to 1.5 percent, with sales of 556,700 vehicles.
“We have to some extent been able to uncouple ourselves from an overall market that remains very weak” because of new models and used-car prices that aren’t declining, Detlef Wittig, group sales chief, said in the statement. “With the exception of China, global passenger-car markets are not showing any signs of recovery” and may not have “hit rock bottom yet.”
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- Posted: 2009-06-12 11:37:11
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