FRANKFURT: Volkswagen (VW) reported a 4.3 percent rise in 2017 sales to 10.7 million vehicles, staying ahead of Toyota in the race to keep the title of world’s biggest carmaker although Renault-Nissan has forecast it would go top.
Last year’s sales by the German firm, which is still dealing with fallout from a scandal over rigged diesel emissions tests, were its highest ever, helped by strong gains in China, Europe and South America. Monthly sales in December rose 8.5 percent.
Japan’s Toyota Motor Corp. said last month it expected 2017 sales to grow 2 percent to 10.35 million units worldwide across its Toyota, Lexus, Daihatsu and Hino brands. It said it would hit 10.50 million vehicles in 2018.
The Renault-Nissan alliance, which includes Mitsubishi Motors Corp, has yet to release combined sales volume figures but Renault boss Carlos Ghosn said in July it was headed for the top spot.
In 2016, VW was No. 1 with 10.3 million vehicle sales, Toyota was second with 10.2 million and Renault-Nissan was third with 9.96 million.
VW said December 2017 China sales jumped 17.8 percent to 460,100 vehicles, while monthly sales in Europe rose 3.1 percent, driven by Germany. US sales were down 5.2 percent.
Overall, carmakers saw European sales fall 4.8 percent in December from the same month a year ago due in part to one less working day, industry data showed on Wednesday.
VW has set aside about €25 billion to cover fines, lawsuits and vehicle repairs related to the diesel scandal.
In race for pole position, Volkswagen says vehicle sales up 4.3% in 2017
In race for pole position, Volkswagen says vehicle sales up 4.3% in 2017
India seals $3bn LNG agreement with UAE
- Leaders hold talks to strengthen trade, defense ties
NEW DELHI, DUBAI: India signed a $3 billion deal on Monday to buy liquefied natural gas from the UAE, making it the Gulf country’s top customer, as the leaders of both countries held talks to strengthen trade and defense ties.
The agreement was signed during a very brief two-hour visit to India by UAE President Sheikh Mohammed bin Zayed Al-Nahyan for talks with Indian Prime Minister Narendra Modi.
They pledged to double bilateral trade to $200 billion in six years and form a strategic defense partnership.
Abu Dhabi state firm ADNOC Gas will supply 0.5 million tonnes of LNG a year to India’s Hindustan Petroleum Corp. for 10 years, the companies said.
ADNOC Gas said the agreement brings the total value of its contracts with India to over $20 billion.
“India is now the UAE’s largest customer and a very important part of ADNOC Gas’ LNG strategy,” the company said.
The UAE is India’s third largest trading partner and Sheikh Mohammed was accompanied by a government delegation that included his defense and foreign ministers. The two sides signed a letter of intent to work toward forming a strategic defense partnership, India’s Foreign Secretary Vikram Misri told reporters.
Misri, however, said that the signing of the letter of intent with the UAE does not mean that India will get involved in regional conflicts.
“Our involvement on the defense and security front with a country from the region does not necessarily lead to the conclusion that we will get involved in particular ways in the conflicts of the region,” he said.
