VWmiss­ing out on car boom in Europe

China Daily (Canada) - - BUSINESS -

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.

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