Economy, Auto

VW Missing Out on Euro Car Boom

VW Missing Out on Euro Car BoomVW Missing Out on Euro Car Boom

Volkswagen, penalized for its emissions scandal in several European markets, continues to miss out on the expanding continental car market. The European carmakers’ association, ACEA, said on Wednesday February sales in Europe accelerated by 14.3%, but VW deliveries nudged up just 4.4%. Boosted by Audi and Skoda, VW group sales grew by 8%, as market share eroded to 23.9%. That compares with double-digit expansion by mass market and premium competitors alike, with Fiat Chrysler showing the strongest growth at 23%, AP reported. Overall, carmakers sold 1.05 million units, with double-digit growth in Italy, France, Spain and Germany. The results reflect an extra working day for leap year. IHS Automotive expects 2016 market growth to moderate after January and February, forecasting a 3% growth to 3.28 million units this year.