Volkswagen sales and market share drop following emissions scandal
Volkswagen's European sales and market share have dropped in the brand's first full month of trading since its emissions scandal was revealed.
According to the European Automobile Manufacturers’ Association, (ACEA) the German group's sales slipped by 0.8 per cent last month, while its market share dropped from 26.1 per cent compared to 25.2 per cent in the same month last year.
The figures follow a rise of 8.3 per cent during the previous month for the firm and indicate the wider financial implications of the company's rigged emissions process, which saw it install software in certain cars to cheat tests.
The drop comes at a time of overall growth for the market in the European region as new passenger car registrations surged by 2.7 per cent in October – rising for the 26th consecutive month.
Volkswagen shares lost a third of their value in September and just two weeks ago they dropped a further 10 per cent as the company conceded that "inconsistencies" had been detected in CO2 emissions from both diesel and petrol engines.
In the wake of the crisis, the German car marque's chief executive Martin Winterkorn resigned and the brand created a new integrity and legal affairs board - poaching Christine Hohmann-Dennhardt from rival car marque Daimler in a bid to clean up its image.
Some 11 million cars worldwide are thought to have been hacked to hide dangerous levels of emissions during tests, including 1.2m vehicles in the UK.
The company has said its "number one priority" is winning back the trust of its customers, and while a full recall has not been implemented it will contact those affected directly to fix the issue.