💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Audi warns of sales fluctuation after 56 percent fall in Europe

Published 10/05/2018, 06:25 AM
Updated 10/05/2018, 06:30 AM
© Reuters. FILE PHOTO: Paris Auto Show
VOWG_p
-

FRANKFURT (Reuters) - Volkswagen's (DE:VOWG_p) premium brand Audi on Friday said it expected sales in Europe to fluctuate in the coming months after a 55.5 percent slump in September sales due to supply bottlenecks caused by stricter anti-pollution rules.

Last month VW Group's sales fell by half in Europe's five biggest markets, according to analysts at Citi, after several top selling models failed to conform to new the Worldwide Harmonised Light Vehicle Test (WLTP) rules.

Audi's monthly sales were down by 69.4 percent in Germany, while China deliveries increased 12.5 percent and sales in North America rose 1.2 percent, the carmaker said.

"Following above-average sales results in Europe over the past two months due to the sell-off of models in stock, the increasingly empty stores and the restrictions in the sales portfolio had an adverse effect on deliveries in September," Audi said.

Some of the supply bottlenecks that have slowed sales of VW's namesake brand, however, are now easing, VW said.

"Currently we have WLTP certification for volume sellers for all of our 14 models," it said in a statement.

© Reuters. FILE PHOTO: Paris Auto Show

"Further vehicle variants will gain their product release shortly," VW said, adding that by year-end it would be able to offer close to all models to customers.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.