FRANKFURT (Reuters) -- Volkswagen posted a group record for deliveries to customers in the month of June as strong growth at its VW, Audi and Skoda brands compensated for a weaker Seat, Europe's largest carmaker said on Tuesday.
Preliminary estimates show deliveries rose 10.6 percent to 489,500 units last month. For the first half, the German group sold 2,558,000 vehicles, a gain of 1.7 percent.
"The figures look very strong, and an 11 percent rise for June underlines signals that the second quarter should be clearly better than the first," said Metzler Bank analyst Juergen Pieper.
Volkswagen brand passenger car deliveries achieved the highest global sales figure for June on record, with 282,700 units, a rise of 9.8 percent versus the previous year's month, helped by the new Golf Plus, the relaunched Passat, the Fox subcompact and the facelifted Polo.
"The record points to the broad resonance among customers that the new models enjoy," the company said in a statement.
A spokesman for Volkswagen declined to provide half-year figures for the various brands including its core VW marque. The group publishes sales figures generally on a quarterly basis.
"From a short-term perspective, there is a lot priced into the stock, but Volkswagen is going through major changes and that means there is a lot of speculation in the stock," Pieper said.
The Metzler analyst is reviewing his "buy" rating and 42 euro price target, saying there is more potential for the share to gain over the long term.
The head of the VW Brand Group, Wolfgang Bernhard, is scheduled to hold a conference call on Wednesday, when he will publicly address analysts and investors for the first time since he joined the company in February.
Deliveries of the company's Czech mass market brand Skoda rose 18.7 percent to 48,300 units last month, the highest figure in its history.
The group's Spanish mass market brand Seat, however, posted an 8 percent drop in deliveries to 39,935 units last month.
VW brand commercial vehicles reported a 19.5 percent increase for June deliveries to 33,255 units.
Regionally, the Volkswagen group posted strong growth in markets like South Africa, France and Germany in the first six months but its once-dominant hold on the key Chinese car market continued to crumble.
Despite a 50.2 percent increase in deliveries to customers in China last month, first-half group deliveries in its biggest foreign market declined by 14.4 percent, it said.
Volkswagen confirmed figures given earlier this month from its premium Audi unit that the brand's deliveries rose by 16.3 percent to a record 78,700 cars in June.