Volkswagen Group's Commercial Vehicle Sales Grow by 24% in Europe
Published On Apr 20, 2016
The first three months of 2016 has been positive for Volkswagen in the commercial vehicle segment. German based Volkswagen Group posted a respectable six percent growth in the first three months by delivering more than 42,000 trucks and buses. Major part of the group's sales were contributed by MAN Truck & Bus. On the whole MAN Truck and Bus sales in first three months of 2016 stood at 18940 units registering 17 percent growth as compared to the previous fiscal year. Volkswagen Group's another subsidiary, Scania sold about 18,440 units in the first three months of 2016, up by five percent. Also, Volkswagen's commercial vehicles sales were up by seven percent with 38,640 units sold in the first quarter of 2016.
In South America, company's sales declined by 23 percent, but in Western European region, Volkswagen Group witnessed a sales growth of 24 percent.
“Our start in 2016 has been a great success, both in terms of building our business and in demand for our products. Particularly in Europe, orders for trucks are on the rise again. However, Brazil still remains a challenge: the market there has virtually ground to a halt. However, I am confident that we will see improvements there in the medium term, too. Our strong position there will be a major advantage and contribute significantly on our way to becoming global champion. Even in difficult times, we stand fully behind this key market of the future,” said Andreas Renschler, CEO of Volkswagen Truck & Bus GmbH.
Volkswagen Truck & Bus is leading the European truck segment with an overall sales figure of 200,000 units. The company is also planning to invest millions for advancement of its technology in the next five years. The company has also assigned more than 300 employees from MAN and Scania for its R&D practices.