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
Amazon.com, Inc. can be held liable for damages caused by defective goods sold on its Marketplace including third parties, according to a ruling by a California appeals court. The California Fourth District Court of Appeals was pronouncing the ruling in a case where a defective replacement laptop battery caught fire and inflicted a woman with third-degree burns. Facebook has launched "Voting Information Center" on Facebook and Instagram platforms, with a view to boosting the number of Americans vote in the upcoming U.S. presidential election in November. The social media giant's latest initiative is expected to help 4 million voters register this year, and help them navigate a 'confusing election process'. Epic Games Inc., the developer of popular game Fortnite, has filed lawsuits against both Apple Inc. and Google after they removed the game from their app stores. The development reflects disputes related to app store fee the tech giants take from each purchase. Epic Games, which has been against the 30 percent revenue cut the two tech giants take from paid apps, added a direct payment option.
Follow RTT