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The Markets
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The Markets
by Proactive
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The Markets
by Proactive
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Manufacturing & engineering

Volkswagen Group back at number one despite diesel cheat scandal

The German group sold 10.3mln vehicles in 2016, just edging Japanese firm Toyota’s 10.2mln.

Volkswagen Group (XETRA:VOW) has overtaken Toyota to become the world’s largest car maker despite having to pay billions of euros for the diesel cheating scandal.

The German group sold 10.3mln vehicles in 2016, just edging Japanese firm Toyota’s 10.2mln.

VW last overtook Toyota when the Japanese firm’s production was badly disrupted by the earthquake and tsunami that hit the country in 2011.

The VW group comprises its own brand plus Audi, Porsche and Skoda.

Sales rose by 3.8% rise over 2015 helped by strong growth in China where the Audi brand is especially popular.

Analysts said even though VW had retaken top spot, without the diesel scandal it might have been even further ahead.

Shares in VW eased 2.5% to €146.05.

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