Volkswagen earns global sales crown - So much for Diesel Gate
I guess everyone put the whole Diesel gate thing out of their minds and still purchased a bunch of Volkswagens this past year. Volkswagen is now the best-selling automaker in the world.
Honestly, I thought Volkswagen's sales would be down for 2016, but it turns out they sold 10.3 million vehicles in 2016, up 3.8 percent from the previous year. Those sales numbers put them ahead of their biggest competitor, Toyota, who sold 10.2 million vehicles. That's not a huge victory, but like Reese Bobby (Ricky Bobby's father) said, "If you ain't first, you're last."
|Toyota still commands higher profits. In fact, Toyota's profit was more than double Volkswagen's between March and September 2016. Numbers for the last quarter still aren't out yet, but it's hard to envision that massive rift reversing in just one quarter.|
|Bloomberg attributes this shift to two key factors. No. 1 is the US market -- lagging demand for its best-selling Camry sure didn't help. No. 2 is China -- demand is growing, and Volkswagen is cashing in with its various brands. Other factors are at play, too, including rising popularity for VW's more upscale marques.|
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