July 2017 US auto sales
In this series so far, we have looked at July 2017 US auto sales of mainstream foreign auto companies (VCR) including Fiat Chrysler (FCAU), Toyota (TM), and Honda (HMC). Among these automakers, only the largest Japanese auto company, Toyota, managed to report positive growth in its July 2017 US sales.
Now, let’s move on by looking at July US sales data for European auto giant Volkswagen (VLKAY).
Volkswagen’s US sales in July
In July 2017, Volkswagen’s US sales fell 5.8% on a year-over-year (or YoY) basis to 27,091 vehicle units. July was the first month in 2017 so far that the company’s US sales saw a YoY drop. VLKAY had reported positive growth in its sales in the previous eight months.
Volkswagen’s July 2017 US sales figures also were slightly lower than 27,377 units sold by the company in the previous month. Currently, Volkswagen’s US sales are still much lower than the sales of other foreign automakers that we covered in this series. In January 2016, VLKAY’s sales took a hit after the US DOJ (Department of Justice) filed a civil lawsuit against it for violating the Clean Air Act. After this legal battle with the DOJ, Volkswagen’s sales fell sharply. This emission scandal not only hurt investors’ sentiments, but it also fueled a debate about the reliability of such large automakers.
Volkswagen’s YTD sales
In the first seven months of 2017, Volkswagen’s US sales have gone up by about 5.9% YoY, reflecting a minor sales recovery. During this period, Volkswagen has sold about 188,329 vehicle units in the US market.
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