Volkswagen Registers global Sales growth of 3.7%

Volkswagen has recorded an increase in global sales by 3.7% for the month of January. It sold 847,800 vehicles in the month all over the world. This comes at a time when the company is steadily coming out from the dieselgate, in which it got entangled as a result of revelation of study data by a group of researchers. Mr. Matthias Mueller, VW’s recently appointed chief executive, said on an occasion, "Developments on world markets at the beginning of the year are mixed.”

Although the picture is not all-good. Mr. Mueller said that the situation in Brazil and Russia remains tense. Brazil’s currency has hit record low values in recent times when compared to the US dollar. This accounted for major breakdown of 39% sales in the South American country. Embroiled in a massive emission scandal, the german carmaker tolerated a decline of 7% sales in the US, which is at the center stage of dieselgate. Estimating the value of fines which can be imposed on the company, it can turn out to be more than $20 billion, considering various lawsuits it is facing in the world’s largest economy. Sales of its vehicle dropped by a whooping 15.3% in November when this thing happened but company was able to rebound well, as in the very next month, the figure came to just 2%.

Volkswagen vehicles alone accounted for 2.8% of growth. Figures were more impressive in automaker’s largest market, China, where sales grew by 14%. It sold 400,100 vehicles in the world’s 2nd largest economy. In India too, it sold 8% vehicles more, thanks to the new features launched in Polo and Vento.

Also Read: Volkswagen India Posts 8 Percent Rise in January 2016