Volkswagen: shares rebound after strong October deliveries

(CercleFinance.com) - After showing some weakness yesterday, Volkswagen shares bounced back on Tuesday after the German auto giant announced a "strong" increase in deliveries last month.


The group said it delivered 949,800 vehicles to customers worldwide in October, up 12.2% year-on-year.

The carmaker said it further expanded its market share in all core regions, such as China - its largest single market - where deliveries rose by 6.6% in the past month.

VW said it also recorded strong growth in Europe (+25.5%) and Germany (+41.5%) compared with the weaker performance in October 2018, due to new testing rules for cars (WLTP).

The Frankfurt-listed shares were up 2.1% after these numbers, following a 4.4% drop yesterday on the back of the cautious stance adopted when it confirmed its targets.

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