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VW’s market share declines again

Posted on 04 May 2016 and read 3209 times
VW’s market share declines againVolkswagen AG’s (www.volkswagenag.com) share of the European market hit a five-year low in the first quarter of this year, with analysts blaming the decline on the German car maker’s emissions-testing scandal.

VW’s brands, including Skoda and Audi, accounted for 23.4% of new registrations in the three months to the end of March (compared with 24.4% a year earlier), according to figures released by the European Automobile Manufacturers’ Association.

Industry-wide demand in the European market increased by 8.1% in the first quarter to 3.93 million. In March alone, the market grew by 5.7% to 1.74 million cars — the 31st consecutive month of growth.

VW has struggled to regain customers’ trust after admitting in September to rigging ECU software on some 11 million diesel-powered cars world-wide in order to falsely pass official emissions tests.

Its biggest-selling brands have also lacked new SUVs in their line-ups, enabling Fiat Chrysler’s Jeep unit, Daimler’s Mercedes-Benz and BMW to gain buyers.