VW cuts sales 2012 forecast by 300,000 vehicles, report says

Article by Anita Panait, on September 8, 2012

Volkswagen has cut its sales forecast for full year 2012 by around 300,000 vehicles due to the vulnerable European economy, according to a report published by Handelsblatt. The report said that in Europe alone, the carmaker slashed its sales forecast for full year 2012 by about 250,000 vehicles.  VW, however, has not disclosed any vehicle sales targets for 2012.

The carmaker said in August that the economic setting in Western Europe remains tense. VW denied a report by Automobilwoche, a sister publication of Automotive New Europe, that it was bracing for an economic slowdown and had informed suppliers that it was mulling reducing production by around 10 percent in the autumn. At the time, VW’s spokesman said that the situation in some markets was "tense" and the coming months would be significantly more difficult and demanding.

The spokesman, however, said Friday that the carmaker was still doing well. For the first seven months of 2012, VW Group posted a 9.1 percent year-on-year increase in vehicle sales to 5.19 million units, driven up by growth regions outside Western Europe.

In China alone, VW Group posted a 17 percent jump in sales for January-July 2012 period to 1.51 million units. In the United States, the VW Group logged a 30 percent hike in vehicles sales for the same period to 324,200 units.

Those figures were in sharp contrast to the Group’s performance in Western Europe, except Germany, which dropped 5.9 percent to 1.15 million units for the first seven months of 2012.

In its home market, Germany, VW Group posted a 4.4 percent surge in sales for the concerned period to 708,100. However, VW succumbed to a slowdown in underlying profit growth in the second quarter of 2012, partly because its earnings were negatively affected by the current debt crisis in Europe.

Topics: vw, sales

If you liked the article, share on:

Comments

Recommended

J.D. Power has officially released the 2017 Vehicle Dependability Study, an annual list of the most dependable brands in the auto industry. Once again coming on top is Lexus, the...
by - February 26, 2017
Citroen revealed that its entry to the Chinese market is moving forward with the planned release of the new generation C5. While still on sale on this part of the...
by - February 26, 2017
There is definitely a second-generation Super Series from McLaren. Even in camouflaged form, it is simply incredible. But while we still don’t have the full data on how truly dynamic...
by - February 25, 2017
A lot of fans are excited with the news that Porsche could be unveiling a performance version of its Panamera 4 E-Hybrid plug-in hybrid during the 2017 Geneva Auto Show. ...
by - February 25, 2017
Tesla is finally setting a more “definite” schedule with regards to the official launch of the Tesla Model 3 electric car. A “limited production” is said to be slated to...
by - February 25, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries