Volkswagen has reported a third consecutive month of sales growth in July but Europe’s largest automaker doubts that this is an indication of a lasting recovery for the world’s car markets.
“The recession is not over yet, it has perhaps bottomed out, but we see no signs yet of a sustained recovery on world markets. That is why we are viewing further developments with caution,” VW group sales and marketing head Detlef Wittig said in a statement.
Led by strong results in Germany and China, VW boosted July unit sales 6.7 percent to 556,900 vehicles. Wittig credited Germany’s and China’s government-supported scrapping incentive programs for VW’s success in both markets.
Deliveries in VW’s home market rose by 26.9 percent to 113,700 units and in China, VW group, which includes Audi, Skoda, Lamborghini and the VW brand, delivered a company record 127,900 vehicles, up 68.4 percent on the same month in 2008.
The trouble spots for VW group include Spain, central Europe and Russia, where its July passenger-car sales slumped 35 percent to 3,252 units, according to date from the Association of European Businesses.
Source: Automotive News