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  1. Volkswagen’s India net plummets 53% in FY14

Volkswagen’s India net plummets 53% in FY14

Volkswagen Group, the makers of Audi, Porsche and Lamborghini apart from Volkswagen...

By: | New Delhi | Updated: December 26, 2014 1:18 AM

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.

volkwagen-graph

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.

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Tags: Volkswagen

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