VW missing out on European car boom

Published March 16, 2016

Volkswagen, penalized down by its emissions scandal, continues to miss out on the booming European car market.

The European carmakers' association, ACEA, said Wednesday that February sales in Europe accelerated by 14.3 percent, but VW brand deliveries nudged up just 4.4 percent. VW group sales, boosted by Audi and Skoda, grew by 8 percent, as market share eroded to 23.9 percent.

That compares with double-digit expansion by mass-market and premium competitors alike, with Fiat Chrysler showing the strongest growth at 23 percent.

Overall, carmakers sold 1.05 million units, with double-digit growth in Italy, France, Spain and Germany. The results reflect an extra working day for leap year.

IHS Automotive expects 2016 market growth to moderate after January and February, forecasting 3-percent growth to 3.28 million units this year.

URL

https://www.foxnews.com/world/vw-missing-out-on-european-car-boom