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Volkswagen revenues soar in North America, Asia Pacific

Keywords: Tags  Volkswagen, VW, quarterly results, North American sales, revenues, Euro Zone, outlook

CHICAGO — Volkswagen AG says it experienced overall market growth during the first nine months of 2012, a trend it saw in all sales regions except Western Europe, the automaker noted in an interim performance report Wednesday.

Key contributors were the Asia-Pacific region and North America, which posted double-digit growth rates.

"The U.S. market in particular continued its recovery" begun in 2009, and higher sales were propelled by increased replacement demand, according to the report.

In the nine months ended Sept. 30, Volkswagen sold 608,592 passenger cars and light commercial vehicles in North America, a 25.4-percent jump over the same period in 2011, as U.S. sales rose 34.1 percent, Canadian volumes climbed 12.6 percent and Mexican sales grew 6.2 percent. Deliveries of trucks and buses more than quadrupled to 1,655 units in 2012.

North American sales revenues of 18.23 billion euros ($23.62 billion) so far this year marked a 44.6-percent jump over the same period in 2011, the company said.

Volkswagen said recessionary trends are expected to continue in some European Union member states, and major industrialized nations will see just moderate growth due to high debt levels. "We expect the global markets for passenger cars and light commercial vehicles to grow overall in 2012, but the pace will probably continue to slacken in the remaining months of the year," the automaker predicted.

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