logo
Plus   Neg
Share
Email

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Global PC shipments returned to growth in the second quarter of 2020 after seeing a significant decline in the preceding first quarter due to COVID-19 related supply-chain disruptions, according to reports by two research firms. The PC market returned to growth in the quarter as production ramped up and vendors restocked their supplies to near-normal levels. The bankruptcy filing of America's oldest apparel retailer Brooks Brothers has ignited significant interest from potential buyers for the brand. WHP Global and a venture backed by Authentic Brands Group LLC and Simon Property Group, Inc., are reportedly considering bids for the retailer. WHP Global owns the ANNE KLEIN and JOSEPH ABBOUD brands. Sundial Herbal Products has recalled around 65 products, which were misbranded and currently unapproved drugs, the U.S. Food and Drug Administration said in a statement. The recall follows an order by a federal judge in June to stop distributing the company's unapproved new drugs. The affected items include herbal products and dietary supplements.
Follow RTT