UPDATE 1-VW sales growth slowest in 15 months as Americas demand falls
* Group Nov sales up 0.7 pct, lowest since Aug 2013
* Sales still on course to hit 10 mln level in 2014 - VW (Adds detail, background)
BERLIN Dec 12 (Reuters) - Sales growth at Volkswagen , Europe's biggest carmaker, was the slowest for 15 months in November as declining demand in the Americas offset gains in Europe and China.
The German group, whose brands include the luxury Audi marque and its core VW passenger-car division, said on Friday deliveries edged up 0.7 percent last month compared with the same month the year before to 834,800 cars. That was the smallest rise since a 0.1 percent increase in August 2013.
"Weaker demand in auto markets is once again raising pressure on car manufacturers," German business consultants Roland Berger said in a study.
"Falling prices in many markets, rising production costs and complexity are eating into profit margins."
VW is targeting 5 billion euros ($6.2 billion) of cost cuts by 2017 at its namesake brand, the centrepiece of an efficiency drive aiming at trimming another 5 billion across the group's remaining brands including Audi and sports-car maker Porsche.
Eleven-month group sales fell by a fifth to 667,900 cars in Latin America and were down 2.6 percent to 542,600 in the United States. Deliveries were up 13 percent in China and 5.7 percent higher in Europe.
Stripping out VW's heavy-truck brands MAN and Scania, November sales were flat. But the German group said it remained on course to meet a 10 million vehicle-sales goal in 2014, four years earlier than originally planned.
"The ten million mark is within reach in spite of all the uncertainties in the global auto sector," sales chief Christian Klingler said.
($1 = 0.8034 euros) (Reporting by Andreas Cremer and Harro ten Wolde; Editing by Christoph Steitz and Mark Potter)
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