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Volkswagen Brand April Sales Down Sharply

Volkswagen Group (VKW.L,VLKAF.PK,VOW.BE) Monday said the sales in the month of April continued to fall sharply due to Coronavirus crisis.

Sales of the main VW brand went downward on the home market by two thirds. In a conference call, sales manager said the company lost 67 percent of the volume in Germany compared to the previous year.

Overall, European deliveries of the main brand decreased by 83 percent in April, compared to last year. In the United Kingdom, France, Italy and Spain, there were almost no sales, there they lost 99 percent of sales.

The US market has so far got off relatively lightly, with a minus of 35 percent there. The sales crisis is now affecting South America, and the VW core brand in Brazil recently sold about 80 percent fewer cars.

By contrast, the situation in China continues to stabilize.

China is increasingly recovering. According to the sales manager, sales in April were down by 2.5 percent and the overall market by 7 percent, which shows that China is almost back to pre-crisis levels.

Volkswagen said it is now launching its own program to boost demand. This includes new leasing and financing tariffs for new and used cars, among others.

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