VW sales start losing ground around the world

#hashtags: #Japan #South Korea #September 18 #Volkswagen AG #Volkswagen

The new car registration for the VW brand dropped 9.1 percent in Japan last month, while another Asian country – South Korea – also reported a negative turn for the deliveries as the scandal starts weighing on consumer confidence. With the dieselgate scandal starting on September 18, German automaker Volkswagen AG could see even worse performances during the months to come due to its involvement in the diesel emissions scandal that apparently affects 11 million autos around the world. In South Korea the VW brand cited a “limited impact” from the cheating scandal, but the Audi luxury brand in turn jumped 22 percent on the back of imports only rising 12 percent in the country last month. And in South Korea the linchpin of VW’s advancement in the market dominated by domestic rivals were the diesel engines. Volkswagen was the top import brand in Japan but its deliveries fell behind luxury rival Mercedes-Benz and the premium automaker could beat the mainstream competitor for the first time in 16 years. While reassuring Japanese customers VW did not import models with the illegal software installed, Volkswagen sees its namesake brand tarnished by the emissions scandal that undermines the chances for the automaker to remain the top selling auto import brand in the country. VW sales during the first nine months of the year have dropped 12 percent, according to the Japan Automobile Importers Association, while the surprise uptick in luxury auto demand has prompted Mercedes-Benz up 13 percent during the same period, in a move that has allowed it to become the leader so far. Via Reuters, Bloomberg