Vw sales rose more than twice as fast as the worldwide auto market in October

Article by Christian Andrei, on November 12, 2010

Volkswagen AG says that, last month, sales increased more than twice as fast as the worldwide auto market. Demand of Audi and VW models in China and the United States aided its bid to surpass Toyota Motor Corp. as the world’s biggest automaker.

On Friday, the Wolfsburg-based firm said in a statement that deliveries by the VW group, which includes the Seat, Bentley, Skoda and Lamborghini brands, rose 9.8 percent from a year earlier to a landmark 612,200 cars, light commercial vehicles and SUVs in October, surpassing the industry’s 4.5 percent sales gain.

VW aims for a second consecutive year of record deliveries as it adds about 70 models, including upgraded versions of existing vehicles.

On Sept. 30, VW’s sales chief Christian Klingler says that VW may reach its target of selling 10 million vehicles each year before the 2018 target date.

VW said Friday that 10-month deliveries increased 12 percent to 5.98 million vehicles. VW’s preferred shares increased as much as EUR1.35 or 1.2 percent to EUR111.95 and traded at EUR111.90 as of 12:32 CET in Frankfurt.

VW’s stock surged 71 percent in 2010, valuing the Company at EUR48.4 billion ($66 billion). [via autonews - sub. required]

Topics: vw, sales

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