Volkswagen cuts sales projection by 140k for Europe

Volkswagen has dramatically cut its internal sales target for Western Europe for 2012. The estimate has been chopped by 140,000 vehicles according to Automotive News. In the report, Bernd Osterloh of VW is quoted telling German newspaper Handelsblatt, "The VW Group is tentatively selling more cars this year than last year. But that is correct that it will be somewhat less than what was originally planned."

The 140,000-unit reduction in the sales estimate is less than the 250,000 figure reported by the German newspaper last month, though Volkswagen denied that report. Sales for the VW Group in Western Europe are down 5.8 percent to 1.25 million units through the first eight months of this year.

According to a internal Volkswagen Group report, the German automaker estimated that it would build 9.4 million vehicles in 2012. That figure, which includes MAN and Scania commercial truck production, is down from the previous estimate of 9.7 million vehicles.

Though Volkswagen says it does not expect the European car market to make a comeback in the 12 to 24 months, it has been pleased with sales of the current Golf, as well as orders for the seventh-generation Golf – pleased enough that the German automaker says it will boost production of the current model through the end of the year. The seventh-generation Golf goes on sale in Europe in November.