In 2024, Volkswagen's global delivery volume decreased by 2.3% year-on-year, with a decline of 9.5% in the Chinese market
In 2024, Volkswagen's global deliveries amounted to 9.03 million vehicles, a year-on-year decrease of 2.3%. Deliveries in the Chinese market fell by 9.5%, down to 2.93 million vehicles. Weak demand for electric vehicles is the main reason. Although sales in the North American market grew by 6.4%, deliveries of all-electric vehicles dropped by about 30%. To address the decline in sales, Volkswagen plans to cut production capacity and establish technical cooperation with XPeng and Rivian. The company hopes to stimulate sales and improve market performance by launching new models
In 2024, Volkswagen's report card seems "not very impressive."
According to a statement from Volkswagen, the company's global deliveries in 2024 were 9.03 million vehicles, a decrease of 2.3% compared to the previous year. The main reason is the weak demand for electric vehicles.
Mercedes' sales fell by 3%, attributed to weak demand for expensive models and a decline in electric vehicle sales in Europe. BMW's deliveries dropped by 4% due to component issues, while Porsche's sales decreased by 3%, with a 28% decline in China.
In the fourth quarter, Volkswagen's global deliveries fell by 0.8% year-on-year to 2.5 million vehicles. Deliveries of pure electric vehicles decreased by 0.5% year-on-year to 238,200 vehicles. Sales in China fell by 8% year-on-year to 871,500 vehicles.
In 2024, Volkswagen's total deliveries in the Chinese market decreased by 9.5% to 2.93 million vehicles. The company's CEO Oliver Blume stated that Volkswagen's goal is to sell 4 million vehicles annually in this market by 2030.
Nevertheless, electric vehicle sales in China performed better, growing by 8%, while globally they declined by 3.4%.
In Europe and the United States, Volkswagen also faces significant challenges. Although sales in the North American market grew by 6.4% last year, deliveries of all-electric vehicles fell by about 30%.
To address the sales decline, Volkswagen has implemented capacity cuts. Blume also plans to establish technical cooperation with China's XPeng and America's Rivian Automotive Inc. to enhance market competitiveness.
However, some analysts indicate that due to the threat of U.S. tariffs, 2025 may still face a difficult situation.
Despite numerous challenges, Volkswagen's electric vehicle order volume in the Western European market performed well, especially for new models such as the Volkswagen ID.7, Audi Q6 e-tron, and Porsche Macan. The company hopes to stimulate sales and improve market performance by launching new models.
Risk Warning and Disclaimer
The market has risks, and investment requires caution. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article align with their specific circumstances. Investment based on this is at their own risk