Automotive space facing tough situation are likely to remain so even in the first half of 2013. However, the second half will be positive says Volkswagen Group. CEO Martin Winterkorn said at VW's annual shareholders' meeting, "The coming months will be anything but easy.”
Global auto markets are marked by weakening demand due to decreasing demand. Europe, leads in the list of declining markets and likely to remain same in the near future. North America and China are performing better than most of the auto markets around the globe.
Volkswagen reported a 26 percent drop in first-quarter operating profit to 2.34 billion euros ($3.04 billion). "Regardless of whether we're in an upturn or downturn, it's our goal to ensure that VW reaches the top of the automotive industry by 2018," says Winterkorn.
Reporting 16 percent decline in sales volume in FY 2012-2013, VW cars in India finds the Indian market difficult. However, performance of all automakers will depend on many factors like global economic situations, interest rates, and demand factor.