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Latest Volkswagen Sales Report
VOLKSWAGEN NEWS RELEASE
The Volkswagen Group continues to go from strength to strength, delivering 2.89 (January-April 2011: 2.66)* million vehicles to customers from January to April, representing an increase of 8.6 percent. Europe’s largest automaker therefore once again outperformed the overall market which grew by some six percent. The Group also reported a rise in deliveries for the month of April, handing over 732,000 (April 2011: 690,800; 6.0 percent)* new vehicles to customers.
“The Group’s worldwide deliveries continue to develop in the right direction. We are benefiting from our convincing model range and are looking to keep up the momentum over the coming months as well”, Group Board Member for Sales Christian Klingler said in Wolfsburg on Friday. “We expect the markets in Western Europe to deteriorate further. Our current projection has been adjusted downward and we are therefore keeping an even closer eye on market developments.”
The Group brands delivered a total of 1.25 (1.23; 2.3 percent) million vehicles on the overall European market from January to April, of which 661,400 (703,000; -5.9 percent) units were delivered in Western Europe (excluding Germany) where conditions remained difficult. In contrast, Europe’s largest automaker grew deliveries in its home market of Germany by 5.6 percent to 387,500 (367,000) units. The company once again reported vigorous growth in the Central and Eastern Europe region, handing over 205,100 (155,300; 32.0 percent) vehicles to customer there.
Group deliveries also rose in the Asia-Pacific region, where 975,700 (837,300; 16.5 percent) vehicles were handed over to customers in the first four months, of which 858,900 (741,200; 15.9 percent) units were delivered in China, the region’s largest single market. In India, deliveries increased to 43,500 (37,200; 17.0 percent) units.
Developments on the American continent were also positive. Unit sales in the North America region were up 23.0 percent in the period to April to 247,900 (201,600) vehicles, of which 173,700 (131,500; 32.1 percent) were delivered in the United States. The Volkswagen Group handed over 296,900 (295,300; 0.5 percent) vehicles to customers in the South America region during the same period.
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Last Update on September 15, 2014 07:31 GMT
ECONOMY-THE DAY AHEAD
WASHINGTON (AP) -- The Federal Reserve will release the industrial production numbers for August this morning.
Tomorrow, Fed policymakers will begin a two-day meeting to set interest rates.
Also on Tuesday, the Labor Department will release the Producer Price Index for August.
MILAN (AP) -- European finance ministers are discussing proposals for leveraging private investments to re-launch the continent's moribund economy.
Italian Finance Minister Pier Carlo Padoan told reporters at a meeting Saturday of finance ministers from the 28 EU nations that most of the resources for the envisioned investment fund would come from private sources.
Padoan said the ministers were focusing on ways governments could leverage those investments. That could include incentives, regulatory simplification and better use of public money. Padoan said `'it is up to governments to facilitate private investments."
European ministers are holding their first meeting since European Central Bank chief Mario Draghi outlined a three-pillared strategy to save the eurozone economy.
Saturday's session was focusing on a proposal for 300 billion euros ($388 billion) in investments to revive the economy.
BEIJING (AP) -- China's factory output in August slowed to 6.9 percent from a year earlier amid waning export demand and a slump in real estate development that has undermined steel and cement production, according to data released by the National Bureau of Statistics.
The growth rate for industrial production in August was down sharply from 9.0 percent in July.
In other data, fixed assets investment in non-rural areas of China rose 16.5 percent in the January-August period compared with the same period a year earlier.
Industrial production was slowing amid weaker exports to major markets in Japan, Europe and the United States and the saturation of China's domestic markets for vehicles and mobile phones after years of rapid growth, the bureau of statistics said.
The cooler summer months this year in eastern China, one of the country's most economically active areas, also helped cut the national electricity production by 2.2 percent in August, the first time power production decreased since 2009, the bureau said.
FOOD AND FARM-SLOW MONEY
MONTPELIER, Vt. (AP) -- Consumers who want to support local food and farms now have another way in addition to buying locally produced veggies, meats and cheeses. The so-called "Slow Money" network links entrepreneurs with investors who want to support a stronger local food system.
Since 2010, Slow Money networks and investment clubs around the country, including in Maine, Massachusetts, California, North Carolina, and in cities like Boston and New York, have made a total of $38 million in investments in 350 small food enterprises. Vermont and its vibrant local foods scene is about to launch its own network on Sept. 16.
Many of the Slow Money chapters organize events where food entrepreneurs put on presentations to investors. Then the interested investors deal directly with the businesses.
WEALTH GAP-STATE MONEY
WASHINGTON (AP) -- Income inequality is taking a toll on state governments.
The widening gap between the wealthiest Americans and everyone else has been matched by a slowdown in state tax revenue, according to a report being released today by Standard & Poor's.
Even as income for the affluent has accelerated, it's barely kept pace with inflation for most other people. That trend can mean a double-whammy for states: The wealthy often manage to shield much of their income from taxes. And they tend to spend less of it than others do, thereby limiting sales tax revenue.
As the growth of tax revenue has slowed, states have faced tensions over whether to raise taxes or cut spending to balance their budgets as required by law.
Credit analyst Gabriel Petek says rising income inequality is more than a social issue because it "presents a very significant set of challenges for the policymakers."
Income inequality isn't the only factor slowing state tax revenue. Online retailers account for a rising chunk of consumer spending. Yet they often manage to avoid sales taxes. Consumers are spending more on untaxed services, too.
100 PERCENT RENEWABLE
BURLINGTON, Vt. (AP) -- Vermont's largest city has a new success to add to its list of socially conscious achievements: 100 percent of its electricity comes from renewable sources.
With little fanfare, the Burlington Electric Department crossed the threshold this month with the purchase of a nearby hydroelectric project.
The Washington Electric Co-operative, which serves parts of northern and central Vermont, reached the goal earlier this year.
Some question the accounting methods used to make the claim because the utilities sell the rights to the renewable energy to other utilities. But the utilities then buy less expensive credits to offset the sale.
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