Sharp decline in Volkswagen sales during the second quarter of this year

Berlin, July 10 (KUNA) -- The German automaker Volkswagen Group announced on Friday a sharp decline in its sales during the second quarter of the year, down 8.6 percent compared to the same period last year. In a report issued from its headquarters in Wolfsburg, the group attributed the drop primarily to a slump in its sales in the Chinese market, one of its largest globally, noting that sales there fell by 36.6 percent, while it recorded growth in European and American markets. Regarding electric vehicles, the group saw its sharpest declines outside Europe: sales in China dropped by 47.9 percent in the first half of the year, while those in the United States fell by 68.8 percent. Conversely, Volkswagen strengthened its leading position in the European electric car market, with sales there rising by 8.4 percent. The downturn experienced by Volkswagen comes as it continues to implement a restructuring plan aimed at cutting costs. According to German media reports, the plan could involve eliminating between 100,000 and 120,000 jobs, with the possibility of closing four factories in Germany. (End) E.N.J./A.B.K.