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FINANCIAL NEWS
Volkswagen reports 72% jump in Middle East sales
10 May 2012
(MENAFN) Volkswagen Middle East reported 72 percent increase in its quarterly sales, helped by higher demand for its new Jetta and Tiguan cars, Arabian Business reported.
The European group, whose brands include VW, Audi, Skoda, SEAT and Bentley, said it sold 2,894 cars in the Middle East during the first quarter.
Sales for the Jetta and Tiguan models increased 650 percent and 207 percent, respectively. The CC reported a 202 percent rise in demand, the carmaker said.
Volkswagen and rivals Ford and Renault unveiled plans to invest in showrooms and offer new vehicles to tap the region’s mainstream buyers.
Volkswagen said its new Passat will arrive in regional showrooms in the middle of this year, while its Polo Sedan will be introduced in the region later this year.
Automakers are boosting investments in the region as sales increase amid rising oil prices and regional governments invest in their economies to seek social stability following the Arab Spring uprisings.
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