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Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

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When SpaceX starts trading, some 'shareholders' will discover they own nothing at all

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Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

1

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

2

When SpaceX starts trading, some 'shareholders' will discover they own nothing at all

3

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
Volkswagen

Volkswagen Roars Overall While European Car Sales Keep Slowing

By
Erik Sherman
Erik Sherman
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By
Erik Sherman
Erik Sherman
Down Arrow Button Icon
December 14, 2018, 9:12 AM ET

Volkswagen is on track to hit a new annual sales record, according to the Associated Press. The company has sold 9.9 million vehicles through November, up 1.8% over the same time last year.

Last year the company claimed to sell 10.7 million vehicles, but the Renault-Nissan-Mitsubishi alliance argued that Volkswagen included trucks, artificially inflating the number. Outside counts pegged Volkswagen at 10.5 million car sales, compared to 10.6 million for Renault, Nissan, and Mitsubishi, as well as almost 10.4 million for Toyota, according to CNN.

With the Carlos Ghosn scandal affecting all three companies in the Renault-Nissan-Mitsubishi alliance, however, rankings next year may shift significantly.

Volkswagen has begun to shift its focus from volume records to profitability, AP reported. One reason may be changing economic conditions that could affect units sold. China, which has been an important market for the auto companies, is seeing an economic slowdown and sales in Europe have become tough.

Passenger car sales fell 8.1% across Europe last month. Volkswagen, Renault, and Fiat Chrysler all felt the drop. The reason: tougher emissions tests.

The Worldwide Harmonised Light Vehicle Test (WLTP) took force on September 1. Some manufacturers held delivery on models that hadn’t yet passed the new certification. Sales had jumped in August as people anticipated the new standards.

Volkswagen is addressing emissions standards in the long term with a shift to electric vehicles and out of internal combustion engines.

In 2015, the company found itself in a massive fraud scandal over software that faked emissions tests.

About the Author
By Erik Sherman
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