1/10/2019, 11:00 AM (Source: TeleTrader)
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Volkswagen brand's sales reach record last year

The core division of Volkswagen AG reached the annual target and slightly topped the previous record in car sales. The German automotive powerhouse reported on Thursday that the tally weakened by a stunning 9% year on year in December to 540,600 units, after a 5% in the previous month. The total rose 0.2% to 6.24 million vehicles. Volkswagen's namesake brand acknowledged the headwinds it ran into in the second half, while boasting of the results in South America, the United States and Europe. It added that new models also helped offset weaknesses.

Vendors in China recorded a 15.3% drop in annual terms in China last month, compared to a decline of 2.1% for the whole year. The European market saw a drop of 4.5% and the US result grew 5.8% from December 2017.

The carmaker once again cited the impact of the implementation of the Worldwide Harmonised Light Vehicle Test Procedure (WLTP) standards, which it earlier called its "ultimate stress test."

Baha Breaking News (BBN) / IT