Germany:Volkswagen November Sales Plunge 17% on Recessions- by Andreas Cremer
Volkswagen AG, Europe’s largest carmaker, said deliveries fell 17 percent in November as “dramatic distortions” in global auto markets sap demand. Global sales fell to 447,000 vehicles last month, Wolfsburg, Germany-based Volkswagen said today in a statement. Eleven-month sales rose 1 percent to 5.73 million, the carmaker said.
“The slump in world markets during the fourth quarter is posing a massive challenge to us,” Detlef Wittig, Volkswagen’s sales chief, said in the statement. “We were still able to expand our market share amid declining sales.” Volkswagen extended the annual Christmas break Dec. 9 by five days at its nine German plants to reduce production as the global credit crunch and a worldwide recession plunged the auto industry into what General Motors Corp., the world’s biggest carmaker, has called the worst crisis since World War II.
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