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China, Germany help VW escape slump: firm
Berlin (AFP) Aug 17, 2009 German auto giant Volkswagen said on Monday that strong sales in China and in its home market in July helped it escape a "continuing difficult situation" in the global car market. VW, which also owns brands including Audi, Skoda and SEAT and which aims to merge with Porsche, said that deliveries to customers in July were up 6.7 percent year-on-year compared to a 16-percent slump in the overall market. "We are making good progress and winning market share worldwide. Our current delivery figures are above plan... It gives us a solid, positive basis for the post-crisis period," VW, Europe's biggest carmaker, said in a statement. "However, 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," it added. Deliveries in China -- up to 127,900 from 76,000 last year -- were boosted by state incentive programmes, while Germany's soon-to-expire "cash for clunkers" scheme meant it sold 26.9 percent more vehicles than in July 2008. In Europe as a whole deliveries fell three percent, with conditions tough in Spain and in Central and Eastern Europe, while in the Asia-Pacific region, its second biggest market, they soared 58.0 percent. In North America they fell 3.1 percent and in South America they slipped 1.8 percent, performing better than the overall market in both cases, VW said. Share This Article With Planet Earth
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Over 1,200 new cars in Beijing every day: state mediaBeijing (AFP) Aug 16, 2009 More than 1,200 new cars hit the roads of China's capital Beijing every day on average in the first seven months of the year, state media reported Sunday. The Beijing Traffic Management Bureau reported the registration of 261,000 new vehicles -- 97 percent of which were private cars -- from the beginning of January until the end of July, the official Xinhua news agency said. The figure ... read more |
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