VW Group sales up despite U.S. slide

Volkswagen Group today reported that sales worldwide grew 5.6 percent for the year through August on increasing strength in Europe and a continued surge in China.

However, sales in the U.S., South America and Russia were a drag on the overall number of 6.52 million vehicles.

August sales of 740,500 were up 2.7 percent, the German automaker said.

"Deliveries by the Volkswagen Group developed well in the first eight months. However, the economic environment in some world markets remains tense," Group board member for sales Christian Klingler said in Wolfsburg, Germany, today.

The overall European market saw a 6.9 percent hike in the first eight months, while China was up 16.5 percent.

U.S. sales fell 4.8 percent in the period. VW is investing $600 million at its Chattanooga plant to produce a new sport utility vehicle that's due in late 2016.

South America also was down 22.2 percent for the year.

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