Volkswagen Group faced a slight decline in vehicle sales in 2024, with a total of 9.03 million units delivered worldwide, a 2.3% drop compared to the previous year’s figures. The decrease was primarily attributed to lower sales in China, where the company experienced a 9.5% decline in sales, reaching 2.9 million units. This decline in China was a result of a competitive price war in the market and the strong performance of Chinese automakers in the electrified car segments.
On a positive note, Volkswagen Group saw growth in North America (6%) and South America (15%), while sales remained consistent in Europe and declined in China. Despite the challenges faced in the Chinese market, Oliver Blume, CEO of Volkswagen Group, expressed satisfaction with achieving sales targets in a challenging environment. He highlighted the introduction of more than 30 new models with numerous innovations, including a focus on all-electric vehicles.
The company delivered 744,800 battery electric vehicles (BEVs) worldwide in 2024, representing a 3.4% decrease from the previous year. Volkswagen Group remains committed to its goal of becoming a leader in automotive technology and the all-electric vehicle segment. The company plans to continue renewing its portfolio by introducing another 30 new models across all brands in the coming year.
Despite the decline in sales, Volkswagen Group’s performance in 2024 was relatively better than its competitors Mercedes and BMW, which experienced 4% declines in vehicle sales. The company’s resilience in a challenging market environment and its focus on innovation and electrification strategies position it well for future growth and success in the automotive industry.
