Volkswagen may become world largest automaker this year image

Volkswagen, Europe largest automaker will probably become world’s largest carmaker this year Bloomberg reports – even if the global economy is rapidly cooling off.

The German company said last week that its total sales this year are up 14 percent than in the first nine months of 2010 at 6.11 million vehicles.

“Delivering six million vehicles in nine months represents a key milestone on the way to reaching our annual target of eight million vehicles sold in 2011,” group board member for sales Christian Klingler stated.

Central and Eastern Europe notched up a rise of 46 percent, while VW enjoyed a 22 percent increase in North America.
In China, Volkswagen’s largest single market, sales expanded by 11 percent to 1.29 million vehicles.
“We are also expecting very good delivery figures for the fourth quarter,” he added, but said some automobile markets are highly volatile.

Already, three of the top car consultancies agencies are predicting that the Germans will grab the global top carmaker slot this year with one, JD Power, predicting VW sales of 7.8m vehicles.

“Emerging markets are at a stage of car-adoption by consumers and there is still a large space for sales to grow. said Jenny Gu, Shanghai-based senior markets analyst for J.D. Power.

‘‘VW realized this and put a lot of effort on emerging markets.’’

Analysts claim that it will take a significant amount of time for Toyota to make up the volume lost during this year’s natural disasters.
Toyota’s output slumped 23 percent to 3.37 million units in the half-year after the company halted production following the magnitude-9 temblor and tsunami in March.

On the same time, the automaker is facing problems in Thailand where the company has halted all its operations. In addition, due to possible delays in parts-supply from Thailand, other Toyota-affiliated production bases in Asia will start to adjust production levels beginning on Monday, October 24.
The carmaker estimates the disruption in the parts supply chain has affected about 100 kinds of parts, including electronic items.

The suspension has resulted in an output loss of 37,500 vehicles in Thailand since the company idled the three plants on Oct. 10, a Toyota spokeswoman said on Friday.