Volkswagen's U.S. sales performance disappoints automaker
Volkswagen AG (VW), the world's third largest automaker in the world, is disappointed with its US sales, according to Bloomberg report. Unlike its performance in both China and Brazil where it has performed well, the US car market remained an enigma to the Wolfsburg, Germany-based automaker.
"We understand Europe, we understand China and we understand Brazil, but we only understand the U.S. to a certain degree so far," Ferdinand Piech, VW Chairman told Bloomberg News this month during an event in Vienna, Austria.
"Our pursuit of innovation and perfection and our responsible approach will help to make us the world's leading automaker by 2018 -- both economically and ecologically," said Martin Winterkorn, VW CEO in a letter to shareholders in the 2012 company annual report.
Throughout the month of September, VW's sales performance declined 2.6% because US consumers bought less Golf hatchbacks and Jetta sedans. During the same month, demand for its automobiles rose 8.1%.
The lackluster sales performance of VW in the US goes way back in the mid 70s. VW used to be one of the top car sellers in the US until Toyota took over VW market share position.