Volkswagen market share falls for 14th month in a row

Volkswagen lost market share in Europe for the 14th straight month since the emissions-cheating scandal erupted in September 2015, as competitors took advantage of the German automaker's tarnished image to attract buyers.

Volkswagen accounted for 24.9 per cent of the region’s car sales in October, compared with 25.3 per cent a year earlier, the Brussels-based European Automobile Manufacturers’ Association (ACEA) said in a statement on Thursday.

Industry-wide European registrations slipped 0.3 per cent last month to 1.14 million vehicles, burdened by one less selling day.

Volkswagen underperformed with a 1.8 per cent decrease across the group’s brands.

Criminal investigations

While Europe’s biggest carmaker has made strides in emerging from the crisis, Volkswagen still faces criminal investigations and hundreds of investor lawsuits after admitting to rigging diesel cars to cheat on emissions tests.

The revelations harmed the company's reputation for quality, helping Fiat Chrysler, Daimler and BMW gain an advantage.

Volkswagen’s 10-month European market share narrowed to 24 per cent from 25.1 per cent a year earlier.

European car sales have been increasing since 2013, rebounding from a two-decade low in the aftermath of the financial crisis.

Growth has cooled in recent months as concerns about the UK's exit from the European Union cloud the region's economic outlook.

European sales for the January-October period rose 6.9 per cent to 12.7 million vehicles.

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( Bloomberg )