VW sales growth slows in August, outlook muted

By IBTimes Staff Reporter | September 10 2010 2:46 PM

Group vehicles sales growth at Volkswagen slowed to 11.2 percent in August, Europe's biggest carmaker said, sounding a wary note about the outlook as global markets cool.

Sponsorship Link

Growth on world markets has...lost momentum in recent months. The global and international automobile markets still present risks, so we remain cautious, sales head Christian Klingler said in a statement on Friday.

The maker of VW and Audi cars said it was detecting no signs of recovery in its home market of Germany, where sales have slumped after a cash-for-clunkers incentive program ended last year.

Still, robust growth in China, the United States and Russia helped VW's global vehicle deliveries rise 13.4 percent through August to 4.7 million units, outpacing market growth.

(Reporting by Michael Shields)

More in Auto