In the first quarter of 2024, the Volkswagen Group sold 136,400 electric cars, marking a slight decline of around three per cent compared to the same period last year. Despite this decrease, the global automotive giant remains optimistic about its electric vehicle (EV) prospects, highlighting significant growth in some markets.
One notable trend is the increase in EV sales in China, where Volkswagen experienced a remarkable 91 per cent growth, with 41,000 EVs delivered to customers. However, EVs still make up only 5.9 per cent of total sales in China for the group.
In contrast, the European market saw a decline in BEV (Battery Electric Vehicle) sales by 24 per cent, with 74,400 units sold in Q1. Volkswagen, though, remains positive about the region, citing a significant increase in orders for all-electric models compared to the previous year.
In the United States, Volkswagen faced a 16 per cent decrease in EV sales, with 13,200 units sold in the first quarter. Despite this decline, the EV share in the U.S. market stands at 8.5 per cent, higher than in Europe or China.
Hildegard Wortmann, Member of the Group’s Extended Executive Committee for Sales, remains confident about Volkswagen’s future in the EV market, stating, “Our diversified product portfolio gives us the necessary flexibility to compensate for fluctuations in demand in certain segments – as is currently the case with all-electric vehicles – in others.”
Volkswagen plans to launch over 30 new models across all drive types in 2024, including the Volkswagen ID.7 Tourer, the ID. Buzz with a long wheelbase, the Cupra Tavascan, the Audi Q6 e-tron, and the Porsche Macan Electric. These launches are expected to provide momentum for the company’s growth in the coming months.
