VW Sales Drop In Q1, But They Were Actually Going Well Until…
Volkswagen’s sales are down 13% in March, but it hasn’t lost faith in its product because until March sales had been up nearly 10%.
The sales dip was predictable given the global pandemic and looks as though it will dip into Q2, as well. March sales, as a result of the coronavirus, are down 42%.
“Our performance through February was outstanding and reinforced our confidence in our strategy,” said Duncan Movassaghi, EVP of sales and marketing, in a statement.
And indeed, the Tiguan and Atlas’s sales increased sharply in January and February. Volkswagen’s SUV sales rose 15% in the first two months of 2020. The Tiguan and Atlas’s, by the end of the quarter, were down 17% and 11%, respectively.
Although VW’s product plan is still okay, the company now has to face the same reality as everyone else. Reduced sales, regardless of reason, and fewer people buying. For the time being, though, says it will focus on keeping things as stable as possible.
“The focus now is on establishing as much stability as possible for our customers, employees, and our dealer partners during this crisis,” said Movasagghi.
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