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WESTERN EUROPE
Volkswagen takes a big step back 

Published: Wed, 04th Nov 2015 18:28:16 GMT
 

Matthias Müller Volkswagen Group Wolfsburg

Until the end of this year’s Frankfurt Motor Show, all still went swimmingly well for Germany’s Volkswagen Group. Fast forward to the end of October, following the publication of the group’s financial results for the nine months to September this year, and a previously happy story has been transformed into near tragedy

The intensifying diesel scandal has blown big holes in Volkswagen’s previously much admired business model. 

Apart from a humiliating and lingering press pasting, a crushing blow from a potentially spiralling financial drain owing to the fallout from the diesel emission scandal, the group also suffered a tell-tale setback on the vehicle sales side.

Buffeted not only by a severe car sales droughts in both Brazil and Russia, but particularly more worrying in cooling China, where sales of the leading Volkswagen’s marque have now fallen for eight out of the past nine months, Volkswagen’s Group’s nine months vehicle sales have lurched into reverse. 

That’s a 3.7 per cent drop in the third quarter, which cut the group’s nine months global vehicle sales to 7.44m, down 2.7 per cent against the same time last year
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