Volkswagen third quarter deliveries fall on plummeting China demand

Oct 12 (Reuters) – Volkswagen reported a 14.3% decline in global deliveries in the third quarter on Monday, dragged by a further drop in demand in the Chinese market.

Deliveries, a closely watched proxy for sales, fell to 1.89 million vehicles this quarter.

“The sharp decline in the overall market in China remains an industry-wide challenge,” Martin Sander, a member of the group’s extended executive committee, said in a statement.

Deliveries in China, Volkswagen’s largest market, tumbled 38.5% in the quarter and are down 30.2% since January. They fell 5.8% in North America and 2.8% in Western Europe but rose by 1.4% in Central and Eastern Europe, the automaker said.

(Reporting by Danny Callaghan; Editing by Matt Scuffham)

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