Tuesday, April 4, 2017
Volkswagen Becomes The World’s Best Selling Carmaker
Volkswagen has passed Toyota to become the world’s best selling carmaker. The German company, which was recently involved in a scandal over emission cheating, had 10.31 million sales. The numbers were reported by the company last week and it is the first time that the company holds the position as the best selling carmaker.
Toyota, which had been the best selling carmaker for the past four years, sold 10.175 million cars around the world in 2016. The sales grew 0.2 percent in 2016 but that wasn’t enough to continue as the best selling carmaker in the world.
The numbers for Volkswagen mean that the company is now the world’s best selling carmaker, despite the recent scandal that led to criticism and lawsuits from investors and affected owners. The Volkswagen emissions scandal, which began in 2015, found that vehicles from the company were equipped with software used to cheat on emissions tests. The company later admitted that 11 million of its vehicles were equipped with the software, which had vehicles going over the pollution limit. The company’s shares dropped nearly 30 percent since the scandal began and in November 2016, reports mentioned that the company had lost market share in Europe for the 14th straight month. Reports also mentioned earlier that year that the emissions scandal had cost the company more than $20 billion. A spokesman for the company said that 2016 had been a very challenging year for them but that they had managed to stabilize operating business in difficult conditions.
Volkswagen, which owns Bentley, Audi, Lamborghini, Bugatti, SEAT, Skoda and Porsche, had a 3.8 percent increase in sales. Part of the increase is said to be by the demand in China.