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Volkswagen's (VLKAY) Sales Plunge 21.8% Y/Y in June
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Volkswagen AG delivered 23,809 vehicles in Jun 2016, down 21.8% from 30,436 units delivered in the year-ago quarter. Volumes were adversely affected by declining sales of the company’s major brands. In the first six months of 2016, the automaker's sales declined 14.5% to 149,014 units.
Jun 2016 turned out to be a disappointing month for Volkswagen. The automaker’s total Golf family sales declined 25% year over year to 4,606 units in the month under review. Total Jetta brand sales also fell 22.2% to 8,617 units. Total Beetle brand sales plunged 51.6% to 1,105 units.
Sales of Passat declined 14.2% to 5,992 units in Jun 2016. The Chattanooga manufacturing facility, which produces Passat vehicles, is now focusing on an all-new midsize SUV, which the company expects to start producing by the end of 2016. Touareg sales decreased 54.5% year over year to 255 units in June.
Meanwhile, Volkswagen reported strong sales of the Tiguan brand. Sales improved 17.7% to 3,066 units, marking the best results for June. GTI sales went up 11.6% to 2,031 units in the month under review.
We note that Jun 2016 was the first full month in which Volkswagen sold the Beetle Dune. The vehicle features a 1.8-liter TSI engine and a six-speed automatic transmission. The Beetle Dune has more rugged exterior styling, interior enhancements and a raised ride height compared to the regular Beetle models. It is also expected that a Dune Convertible will be available in showrooms by this year’s end.
Meanwhile, the Detroit big three reported strong U.S sales in Jun 2016. General Motors Company’s (GM - Free Report) sales rose more than 1% to 209,295 vehicles in Jun 2016, driven by an increase in sales of Chevrolet, Buick and Cadillac. Ford Motor Co.’s (F - Free Report) sales in Jun 2016 went up 6.4% to 240,109 units. Fiat Chrysler Automobiles N.V.’s sales climbed 7% to 197,073 units, thereby marking the best June sales in 11 years.
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Volkswagen's (VLKAY) Sales Plunge 21.8% Y/Y in June
Volkswagen AG delivered 23,809 vehicles in Jun 2016, down 21.8% from 30,436 units delivered in the year-ago quarter. Volumes were adversely affected by declining sales of the company’s major brands. In the first six months of 2016, the automaker's sales declined 14.5% to 149,014 units.
Jun 2016 turned out to be a disappointing month for Volkswagen. The automaker’s total Golf family sales declined 25% year over year to 4,606 units in the month under review. Total Jetta brand sales also fell 22.2% to 8,617 units. Total Beetle brand sales plunged 51.6% to 1,105 units.
Sales of Passat declined 14.2% to 5,992 units in Jun 2016. The Chattanooga manufacturing facility, which produces Passat vehicles, is now focusing on an all-new midsize SUV, which the company expects to start producing by the end of 2016. Touareg sales decreased 54.5% year over year to 255 units in June.
Meanwhile, Volkswagen reported strong sales of the Tiguan brand. Sales improved 17.7% to 3,066 units, marking the best results for June. GTI sales went up 11.6% to 2,031 units in the month under review.
We note that Jun 2016 was the first full month in which Volkswagen sold the Beetle Dune. The vehicle features a 1.8-liter TSI engine and a six-speed automatic transmission. The Beetle Dune has more rugged exterior styling, interior enhancements and a raised ride height compared to the regular Beetle models. It is also expected that a Dune Convertible will be available in showrooms by this year’s end.
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Meanwhile, the Detroit big three reported strong U.S sales in Jun 2016. General Motors Company’s (GM - Free Report) sales rose more than 1% to 209,295 vehicles in Jun 2016, driven by an increase in sales of Chevrolet, Buick and Cadillac. Ford Motor Co.’s (F - Free Report) sales in Jun 2016 went up 6.4% to 240,109 units. Fiat Chrysler Automobiles N.V.’s sales climbed 7% to 197,073 units, thereby marking the best June sales in 11 years.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>