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updated: 9/14/2012 6:18 AM

VW sales jump in August as Porsche purchase rise

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  • Volkswagen AG's growth pace accelerated in August as the first-time inclusion of sales of the Porsche brand helped offset slumping demand in its home European market.

      Volkswagen AG's growth pace accelerated in August as the first-time inclusion of sales of the Porsche brand helped offset slumping demand in its home European market.
    Associated Press

 
Bloomberg News

Volkswagen AG's growth pace accelerated in August as the first-time inclusion of sales of the Porsche brand helped offset slumping demand in its home European market.

Deliveries for the group, which includes the Audi, Skoda and Seat brands, rose 19 percent to 719,500 vehicles, the Wolfsburg, Germany-based carmaker said in an e-mailed statement today. Sales for the first eight months of 2012 advanced 10.2 percent to 5.91 million vehicles.

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"We are satisfied with the group's continued good performance," said Christian Klingler, VW sales chief in an e- mailed statement today. "We are monitoring the continued tense situation, particularly in Western Europe, very closely."

Buoyed by expansion in the U.S. and China and strong demand for its high-end brands, VW has been outpacing European competitors. PSA Peugeot Citroen and Fiat SpA have moved to cut production with the European car market poised to drop for the fifth straight year to the lowest level since 1995.

Volkswagen shares rose as much as 6 percent to 154.10 euros, the biggest gain since July 5, and were up 5.7 percent as of 12:25 p.m. in Frankfurt. The stock has climbed 33 percent this year, valuing the company at 67.2 billion euros ($87.9 billion).

VW's sales were lifted by Porsche AG, after the purchase of the brand was completed Aug. 1. The Stuttgart, Germany-based sports-car brand sold 10,900 vehicles in August, VW said.

Deliveries in China climbed 18 percent to 1.74 million vehicles in the first eight months. U.S. sales jumped 33 percent to 380,000 cars and sport-utility vehicles. In Western Europe, excluding Germany, VW's deliveries declined 5.8 percent to 1.25 million vehicles.

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