VW sales chief: European markets remain "tense"

AP News
Posted: Sep 27, 2012 6:14 AM
VW sales chief: European markets remain "tense"

PARIS (AP) — Volkswagen's marketing chief says car companies are going to have to live with tough markets, especially in crisis-hit southern Europe.

VW's sales and marketing boss, Christian Klingler, told reporters at the Paris Auto Show that Spain's overall market has fallen by half since 2007 and Italy is down too.

Klingler said Thursday that "it's a development that we all have to live with" and that nothing like this has confronted auto makers "for 20 or 30 years."

It's an opportunity for the company to show its strength, he said, as VW has built market share.

North American sales growth remains "relatively stable" while China continues to grow and Russia is "very dynamic," Klinger added.