Volkswagen shares are still up: sales of VW subsidiary Porsche fell |  07/15/22

Volkswagen shares are still up: sales of VW subsidiary Porsche fell | 07/15/22


Car manufacturer Porsche had to endure a setback in sales in the first half of the year.

The Volkswagen subsidiary’s shipments fell between January and June compared to the same period last year by five percent to 145,860 vehicles, the company announced Friday in Stuttgart. In addition to the restrictions caused by the resurgence of the corona epidemic in China and other markets, ongoing restrictions on components and problems in the logistics area had a negative impact. Despite all the problems, Porsche remained optimistic. It is assumed that the second half of the year will grow strongly.

In Europe, the number of sales increased by seven percent to 43,087 vehicles in the first six months. In the home market, Porsche increased sales by five percent to 13,785 vehicles. In China, the biggest market, 40,681 sports cars were sold, down 16 percent as a result of months of lockdowns in many cities.

32,529 cars were delivered in the US, less than ten percent in the first half of last year. In the first quarter, a cargo ship containing 4,000 vehicles from the VW Group, including many from Porsche, caught fire en route to the United States and then sank. That was one of the reasons for the decline in sales there.

VW shares rose in XETRA trading at times by 0.63 percent to 127.10 euros.

/ols/DP/stk

STUTTGART (dpa-AFX)

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