Volkswagen, which many industry experts expect to pass General Motors Co. (NYSE: GM) and Toyota Motor Corp. (NYSE: TM) as the world’s largest car company within the next few years, showed that its prospects to do so are promising. The Germany firm announced:
The Volkswagen Passenger Cars brand began the year with a rise in vehicle deliveries: The company handed over 491,900 (January 2012: 419,100) models to customers worldwide, an increase of 17.4 percent over the comparable prior-year period.
Why?
Developments outside Europe were more positive. In the North America region, Volkswagen Passenger Cars grew deliveries to 43,800 (39,600; +10.6 percent) units. The brand handed over 29,000 (27,200) vehicles to customers in the United States, the region’s largest single market, representing an increase of 6.7 percent. Volkswagen Passenger Cars delivered 63,100 (64,300; -2.0 percent) vehicles in the South America region, of which 46,100 (43,800; +5.1 percent) units were handed over in Brazil.
The brand reported a substantial 43.7 percent increase in January in the Asia-Pacific region, handing over 251,100 (174,700) vehicles there, of which 235,000 (159,900; +47.0 percent) units were delivered in China (incl. Hong Kong), the region’s largest single market. The date for the Chinese New Year was again set in February and as a result of this special situation, deliveries in January were noticeably higher than for the same month last year; however, a decline in deliveries is expected for February. In India, Volkswagen Passenger Cars delivered 4,600 (5,800; -19.9 percent) vehicles in January.
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.