Volkswagen's Core Auto Sale Reaches Record High In 2017
Zacks Investment Research | Jan 15, 2018 07:39AM ET
Per Reuters, Volkswagen (DE:VOWG_p) AG’s (OTC:VLKAY) core auto division has achieved record-high sales in 2017, primarily on higher demand for the company’s major brand models in the American and Chinese market, which collectively offset the sales decline in the Western Europe market.
Worldwide sales volume of Volkswagen brand cars rose 4.2% to 6.23 million units, aided by its extended array of sport-utility vehicle (SUVs) models, including the company’s new Atlas and Teramont models.
Talking about the regional sales volume in 2017, China’s vehicle sales witnessed a rise of 5.9% to 3.18 million cars. While in the United States, Volkswagen sales expanded 5.2% to 339,700 units. However, the company experienced a drop of 2.5% to 1.43 million cars in its western European market as an after-effect of its diesel emission scandal.
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