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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.
More Business News
Last Update on April 17, 2014 07:32 GMT
HONG KONG (AP) -- Asian stock markets were mostly lower today, with Japan's Nikkei leading the retreat as investors locked in profits after a strong rally.
Profit taking set in following a sharp rise in Tokyo the day before and as comments from the country's central bank governor left investors unimpressed.
Other regional benchmarks were unable to find direction in spite of optimism in the U.S., where major benchmarks closed at least 1 percent higher, and Federal Reserve Chair Janet Yellen said the central bank would continue to provide stimulus for the job market.
Trading in some markets such as Hong Kong and Australia was subdued ahead of a long weekend.
Benchmark crude oil rose above $104 a barrel.
The dollar slipped against the euro and the yen.
ECONOMY-THE DAY AHEAD
Major business and economic reports scheduled today
WASHINGTON -- Investors today will be taking a close look at the government's weekly jobless claims report.
Also due out is Freddie Mac's weekly mortgage rate report.
There are a slew of companies set to report their quarterly financial results today. All results will be released before the bell.
Among the major companies reporting are industrial giants DuPont and General Electric.
Two big investment banks, Goldman Sachs; and Morgan Stanley, will report earnings.
Also set to release quarterly results today are PepsiCo, Philip Morris International, Union Pacific, Mattel, UnitedHealth and Chipotle Mexican Grill.
ALBANY, N.Y. (AP) -- An official familiar with the investigation says the New York Attorney General's Office has issued subpoenas to six firms and sent a letter to another for details about split-second stock trading and any unfair advantages.
The official tells The Associated Press the subpoenas went last week to trading firms including Chicago-based Jump Trading LLC and Chopper Trading LLC and Tower Research Capital in New York. The official spoke on condition of anonymity because he wasn't authorized to publicly discuss the subpoenas.
Attorney General Eric Schneiderman has said advantages in computer hardware and placement enable some traders to get millisecond timing advances on trades.
His office, with New York authority to investigate securities fraud, is seeking details about trading strategies and special arrangements with trading venues.
LOS ANGELES (AP) -- A man will plead guilty to securities fraud and pay regulators around $801,000 for using insider information to profit from Disney's $4 billion acquisition of Marvel Entertainment in 2009.
According to the deal filed in Los Angeles federal court Wednesday, Toby Scammell learned from his then-girlfriend, a Disney corporate strategy employee, that Disney would acquire a well-known company she didn't name.
Scammell learned from his consulting company that Disney had previously wanted to acquire Marvel. He bought call options in Marvel stock for around $5,500, and later sold them for $192,000 in profit.
Last month, Scammell agreed to settle a parallel civil case and pay $801,000 to the Securities and Exchange Commission, which will be credited to his fine in the criminal case. He also faces prison time.
WASHINGTON (AP) -- The fight over whether workers at a Volkswagen plant in Tennessee can unionize is moving to Washington.
Two House Democrats said Wednesday they will investigate whether Republicans in that state may have violated "or otherwise run afoul" of any federal laws ahead of a February vote in which workers narrowly opted against joining the United Auto Workers.
Congressmen George Miller of California and John Tierney of Massachusetts say they want to know if any Tennessee Republicans attached any inappropriate strings to the state's $300 million incentive package to get VW to expand the Chattanooga plant.
The union claims the election was tainted by Republicans including U.S. Sen. Bob Corker.
Corker and others have denied doing anything inappropriate.
A hearing on the UAW's complaint is set for Monday in Chattanooga.
SAN FRANCISCO (AP) -- Yahoo's recently fired chief operating officer, Henrique de Castro, left the Internet company with a severance package of $58 million even though he lasted just 15 months on the job.
The disclosure in a regulatory filing may lead to more second-guessing of Yahoo CEO Marissa Mayer's decision to hire de Castro as her second-in-command in October 2012.
Mayer dumped de Castro in January after concluding he wasn't executing on her plan for reviving Yahoo's lackluster ad growth. De Castro had been in charge of ad sales.
Yahoo Inc. previously disclosed de Castro would be getting a severance package, but didn't reveal the amount until Wednesday.
The company's board said most of the severance stemmed from the costs of luring de Castro from his previous job at Google Inc.
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