BMW, VW Report Higher N. American Sales
Germany's major automakers reported mixed results in the sales of their cars in North America during May, with BWM and Volkswagen reporting solid gains while sales by Porsche dipped, the companies said Friday.
Volkswagen AG, Europe's biggest car maker, has struggled with meager market share in North America, but said that car sales last month rose to 22,100, up 36 percent from last year's figure of 16,297.
That was led by sales of the Wolfsburg-based company's Jetta and newly redesigned Passat.
On the year to date, sales rose 24 percent to 95,924, compared to 77,633 in the first five months of 2005.
Munich-based BMW AG said May sales rose 5.3 percent to 28,360 compared with 26,926 in May 2005. For the year, sales rose to 129,511, up 10 percent from the 117,844 in the January-May period in 2005.
The increases were bolstered by a 7 percent rise in BMW-brand sales in May to 24,688 compared with 23,048 in 2005. For the year, sales rose 13.6 percent to 113,041 compared with the 99,472 cars sold in the first five months of 2005.
BMW's MINI USA said sales were down 5.3 percent in May to 3,672, compared to 3,878 in May 2005, while year-to-date sales fell 10 percent to 16,470 from 18,372. The company said the dip was the result of less production at its main plant in Britain, which is being retooled.
Stuttgart-based Porsche said that sales in North America fell less than 1 percent compared to the same time last year, with 3,541 models sold.
The company said that despite the 0.7 percent dip, its 911 and Boxster models were doing well, with sales of the revamped 911 up 7 percent to 1,166 sold in May. Sales of the Boxster were up 20 percent with 1,265 sold last month. Sales of the company's sport-utility vehicle, the Cayenne, dipped 20 percent, with 1,102 sold.
For the year, sales rose to 16,652, up 14.9 percent from the first five months of 2005.
Shares of Porsche were up nearly 4 percent to euro789.49 (US$1,005.49) in Frankfurt trading while Volkswagen shares rose more than half a percent to euro55.76 (US$71.01) in Frankfurt trading. Shares of BMW were up a third of a percent to euro39.84 (US$50.74).
___
On the Net:
http://www.volkswagengroup.com
http://www.porsche.com
http://www.bmw.com
© Copyright Thomson Reuters 2024. All rights reserved.