Volkswagen Cuts 2012 Sales Target on Weak European Economy

Volkswagen Cuts 2012 Sales Target on Weak European Economy

In the battle for annual sales supremacy it’s all but certain that Toyota will claim the crown for 2012 now that Volkswagen has cut its global sales target by 300,000 units to 9.4 million.

Due to the weak markets in western Europe, Volkswagen has cuts its expectations for its full-year sales, but will still see a 12-percent growth if it hits its 9.4 million goal for 2012. The automaker will still be on pace to sell 10 million vehicles by 2018 and is currently on pace to overtake General Motors for the world No. 2 spot.  Its ultimate goal however is to surpass Toyota.

Last year, Volkswagen reported 8.36 million vehicles sold globally, and in the first eight months of 2012 has sold 5.19 million vehicles.

“Due to the continued tense market situation in western Europe, we have made slight adjustments but not nearly to the extent that is being speculated about at the moment,” a spokesman for Volkswagen said.

[Source: Reuters]


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