The German carmaker sees sales growing in the crucial Chinese market.
A good time to buy? Image: China Signpost |
Volkswagen Group has reclaimed its position as the largest automaker in China as it outsold General Motors over the past two months.
In April, brands under the VW Group umbrella recorded 295,300 deliveries, compared to GM's 277,979 during the same period. March sales also rose to 328,000 for VW, while GM sold just 296,939 vehicles.
Sales of VW cars dropped to 216,700 vehicles in April, but were balanced out by a hefty 9.4% rise in deliveries of Audi and Skoda branded vehicles, which increased by 9.4% and 3.6% to 49,576 and 23,800 vehicles, respectively.
Global auto giants are battling fiercly for the Chinese market, but have faced several setbacks over the past few years. Japanese automakers have seen sales wane on a wave of anti-Japanese sentiment in the region, while the VW emissions scandal and a clampdown on luxury spending have hurt sales of the groups top and middle range vehicles.
Despite the emissions crisis, VW Group reported better-than-expected global results, with operating profits for Q1 at €3.4bn ($3.8bn up from €3.3bn ($3.7bn) a year earlier and well above the predicted €2.8bn ($3.1bn). However, the VW brand suffered significantly, with profits before special items of just €73 ($81m) from €514 ($572m) in the previous year. The results had been postponed to allow the auto giant to make 'currency-related adjustments' in connection with the money set aside to handle the fall-out from the emissions issue.