Volkswagen Group, the makers of Audi, Porsche and Lamborghini apart from Volkswagen cars in India, saw its net profit in FY14 decline 53% at Rs 29.5 crore on account of low sales.
According to the latest filings by the company with the registrar of companies, sales in the fiscal were down 8.2% at Rs 8,062 crore. Unit sales of cars declined 17.2% at 62,363.
Unit sales have declining on a yearly basis since FY13.
While in FY12 the group sold some 80,000 cars, in the last two financial years sales have dropped by a third (-33.2%). As a result the group’s market share came down to 2.1% at the end of last year from a little over 3% earlier. However, in the last three years, sales of Audi cars have witnessed 46% surge, which is due to low base. In FY14, 9,540 Audi cars were sold compared to 6,547 in FY12. Sales of Porsche sports cars have also increased since 2012.
Even though, the hatchback model Polo is the cheapest car Volkswagen offers, data shows the semi-premium sedan Vento remains its most sold car since FY12.