VW Group sales down 3.7 percent on trouble in China, Russia
Volkswagen Group is feeling the effects of economic trouble in several key markets, driving down global sales in July.
Total group deliveries fell by 3.7 percent to 792,100 in July. Worst-performing markets include Russia (down 40.3 percent), China (down 5.3 percent) and Brazil (down 30.6 percent).
“The overall economic situations in China, Russia and Brazil continue to be tense,” VW Group sales head Christian Klingler said in a statement. “At the beginning of the second half of the year, the Volkswagen Group was not entirely immune from these developments. To a certain extent, we did experience a tailwind in North America and especially in Europe.”
Deliveries in North America grew by 6.2 percent to 533,000 units from January through July, while Europe sales rose by 3.7 percent to 2.45 million vehicles during the same period.
Sales of VW Group’s namesake brand were down by 4.3 percent in the first seven months of the year. Audi deliveries are up slightly for the year, while Porsche is the shining star with a 28.5-percent jump in sales during the same period.
The company does not appear to be optimistic that the regional troubles will be resolved during the remainder of the second half.