Volkswagen is losing market share in Europe after the scandal diesel
Emissions German automaker Volkswagen Scandal losing European market share.
The market share in Europe slipped to its lowest level in six months the Volkswagen Group, the German automaker reeled under a scandal of massive emissions that affected nearly 11 million of its diesel vehicles worldwide This photo taken on 15 October 2015 in Cardiff shows a Volkswagen logo on the engine of a diesel car Photo Getty Images AFP Damien Meyer.
Volkswagen AG market share in Europe slipped to its lowest level in six months that the German automaker reeled under a scandal of massive emissions that affected nearly 11 million of its diesel vehicles worldwide According to data released Friday by the European automobile manufacturers Association ACEA based in Brussels, the owner of the VW, Audi, Skoda, Seat and Porsche car brands accounted for 23 3 percent of auto sales last month in the region, down 23 June percent a year earlier.
However, given that much of the Volkswagen sales took place before the extent of the scandal diesel emissions came to light, the company maintained its lion's share of the automobile market in the region in the EU European Union, for example, the group's overall sales increased 8 4 percent year-over-year in September, while sales of Volkswagen brand cars rose 6 percent 6.
The gain of 8 4 percent behind the overall growth of sector 9 8 percent in the EU, according to data released by ACEA record of industry-wide in Europe rose in January 39 million vehicles in September 1 27 million a year earlier, with sales of more than nine months of 8 additional 8 percent to 10 8 million vehicles, the ACEA said.
Volkswagen's use of defeat devices to cheat on emission tests in the U S came to light last month, which led to the eventual resignation of former chief Martin Winterkorn and triggering investigations widespread in practice automaker.
The company could face 35 billion 40 billion in fines and legal costs in the US and Europe Moreover, the scandal has also wiped out a third of the market value of the company, making it the 78 worst crisis automaker history.
The report ACEA just a day after the automaker has outlined plans to recall its May 8 million vehicles used the new CEO Matthias Mueller EU Volkswagen said Thursday that the company has a good chance to shine again in two to three years.
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