All data is delayed
See More

VW sales up, warns on debt crisis

Jul 13 2012 15:14

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.

* For more on this and other stories, follow us on Twitter, Facebook and Google+.


Read Fin24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


With infrastructure spending having been identified as one of the key focus areas of the National Development Plan, tradesmen will continue to play a critical role in growing the South African economy through their skills..

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

A 30% a month return on investment is:

Previous results · Suggest a vote