Volkswagen Group sales fell 8.6 percent overall in the second quarter of the year and are down 6.3 percent for the year.
Sales cratered in China, offsetting positive results in North America and Europe.
Volkswagen Group plans to cut its portfolio in half to remain competitive.
Things are looking dire for Volkswagen Group once again. Sales for the German automotive conglomerate fell 8.6 percent overall in the second quarter of the year, driven down by the company’s abysmal performance in China.
VW Group sales in the Asian country fell a whopping 36.6 percent from April to June, and they were down 25.9 percent for the year. The automaker also struggled in the Middle East, Africa, and the rest of the Asia-Pacific market. Marcos Schubert, member of VW Group’s extended executive committee for sales, said:
