VW's Europe market share at 5-year low after scandal

Paris

VOLKSWAGEN AG's European market share contracted by the most since December last month as the lingering effects of its emissions-cheating scandal prevented the German carmaker from taking advantage of improving sentiment among car buyers.

Five-month sales by the Volkswagen group, including the Skoda, Seat and Audi brands, amounted to 23.9 per cent of new registrations in the region, the lowest for the period since 2011, versus 25 per cent a year earlier. Industrywide sales jumped 9.7 per cent to 6.58 million vehicles, with Volkswagen's growth lagging behind at 4.9 per cent, the European Automobile Manufacturers' Association, or ACEA, said on Thursday.