THURSDAY: A manufacture of Volkswagen AG, a luxury drive Audi AG, has cited moderate growth in sales the last month – reason behind can be contributed by strong European demand offset weaker growth in the U.S. and China – the sales data published.
German car manufacturer sated to have had sold approx. 126,500 cars around the globe last month – to which it claims as a 3.3% bullish percentage from the estimates of February last year.
The data report depicts larger demands in Europe where there had been a robust interest for its top luxury sedans. Meanwhile sport-utility vehicles drove sales approx. 8.1% at peak to 65,150 vehicles. As per the results, sales in China region have increased with 1.3% while 2.3% in United States of America.
“Audi’s substantial growth in Europe shows that our model initiative is paying off.” – Management board member in charge of sales and marketing, Dietmar Voggenreiter
Audi’s top luxury models i.e. A6, A7, A8 and Q7 have hiked with 11% to 28,507 vehicles in European region.
[Exclusive from Market Watch: Collectively, Audi sold 37,900 SUVs in February, BULLISH from 13%. It is benefiting from the global popularity of SUVs, which accounted for nearly a third of its global sales in February.]
Over global premium car platform, Audi is into close competition with German rivals BMW AG and Mercedes-Benz – the luxury car unit of Daimler AG.
Not to mention, BMW led the segment for the past few years, but Mercedes is growing faster than rest due to which many expect Mercedes to reclaim the top spot from BMW in 2016.
Europe’s largest car manufacturer employs more than 600,000 people at about 120 factories, including 270,000 in Germany. Its plant in Chattanooga, Tennessee, employs about 2,200.
Apart from this, The US Department of Justice is suing VW for up to $46bn (£32.3bn) for breaching US environmental laws. There is still no fix for nearly 600,000 cars affected in the US almost six months after the scandal erupted. Volkswagen may have to cut jobs in the US and Europe, depending on how much it is fined for manipulating diesel emissions tests, a company official has told workers at its German headquarters.