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VW sales up, warns on debt crisis

Jul 13 2012 15:14
AFP

Berlin - Europe's biggest carmaker Volkswagen on Friday reported an 8.9% increase in global vehicle deliveries during the first six months of the year, led by a surge in demand in China's booming market.

The German group warned of the risks in the coming months posed by Europe's debt crisis.

VW said deliveries between January and June to China - the world's biggest car market - rose by 17.5% compared with the same period last year. This brought total sales in China and Hong Kong to 1.3 million cars.

VW said worldwide deliveries totalled 4.45 million during the six months. In the month of June alone deliveries jumped by 11.0% compared with same month last year.

"Deliveries by the Volkswagen Group developed very well in the first half of the year," said VW sales chief Christian Klingler releasing the data.

"But that is by no means cause for euphoria," he said. "The economic situation, particularly in Western Europe, remains tense and difficult.

"We remain on track and are entering the second half year, which will be altogether more challenging, with confidence," he said.

The sales figures came just one day after VW rival France's PSA Peugeot-Citroen sent shockwaves across the European car industry by announcing that it was slashing its workforce by 8,000 and closing a factory as a result of slumping sales in the eurozone.

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