Eastern Europe Gives Volkswagen a Sales Boost
In spite of the weakness of European economies, the continent's largest carmaker, Volkswagen(NASDAQOTH: VLKAY.PK), is reporting good sales for its durable Czech Republic-based Skoda brand. In a press release, the company said total deliveries of the brand rose nearly 8% year over year in the first nine months of this year. That growth was particularly robust in Eastern Europe, where deliveries advanced 23% on an annual basis in September. According to the company, this is three times as high as the figure for the overall car market in that region.
Elsewhere on the continent, however, the figures weren't as lofty. Skoda's sales in its native Central Europe declined by 4.4% in the same time frame, while they fell at nearly the same rate in Western Europe. The company pointed out that the latter result was better than that of the overall regional vehicle market, and that sales in Germany were particularly strong, growing at a 9.2% annual clip.
The Czech brand had better fortunes outside the continent, growing sales in China by 6.6% year over year in September. It sold 22,500 cars there, a total that eclipsed that of Central and Eastern Europe combined. It also saw an 18.3% increase in India, although this market is a small one for the carmaker -- it sold 2,600 cars there during the month, up from 2,200 in September 2011.
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