VWmissing out on car boom in Europe
Volkswagen AG, penalized down by its emissions scandal, continues to miss out on the booming European car market. The European carmakers’ association, ACEA, said onWednesday that February sales in Europe accelerated by 14.3 percent, but VW brand deliveries nudged up just 4.4 percent. VW group sales, boosted by Audi and Skoda, grew by 8 percent, as market share eroded to 23.9 percent. That compares with double-digit expansion by mass-market and premium competitors alike, with Fiat Chrysler showing the strongest growth at 23 percent. Qube will take a 50 percent equity stake in the operation with the remainder shared between Brookfield and its co-investors including the Qatar Investment Authority. Gary Helou, managing director of MG, said most of the company’s brand of formula — Devondale Natra Start — would make its way to China, where the market for quality milk products continues to soar. and Quarantine, the country’s top quality watchdog.