Volkswagen will increase Q1 gross sales regardless of weaker China enterprise - thqaftqlm

Volkswagen will increase Q1 gross sales regardless of weaker China enterprise

BERLIN, April 21 (Reuters) – Volkswagen (VOWG_p.DE) considerably elevated deliveries within the first quarter regardless of weaker enterprise in China, its most essential single market, the German carmaker stated on Friday.

The group delivered 2.04 million automobiles to prospects worldwide, up 7.5% in contrast with the identical quarter final yr, whereas in China, gross sales fell 14.5% to 644,500 automobiles.

Gross sales in Western Europe offered a lift to general figures, up barely greater than 1 / 4 as manufacturing not feels the consequences of semiconductor shortages as strongly.

A Volkswagen brand is seen in the course of the New York Worldwide Auto Present, in Manhattan, New York Metropolis, U.S., April 5, 2023. REUTERS/Andrew Kelly

Volkswagen reported a 25.4% lower in battery-electric automobiles (BEVs) in China within the first quarter, to 21,500 automobiles, whereas worldwide deliveries had been up 42.1%.

Volkswagen and different overseas carmakers are struggling to maintain up with Chinese language automakers, who’re stepping up the tempo and stress to chop prices in a market the place electric-drive automobiles now make up virtually a 3rd of recent gross sales.

VW’s mass-market manufacturers have misplaced share in China over the previous yr because the market shifted to electrical automobiles (EVs) and plug-in hybrids the place made-in-China manufacturers, led by BYD (002594.SZ), have moved quicker.

Reporting by Ilona Wissenbach, Writing by Miranda Murray

Our Requirements: The Thomson Reuters Belief Ideas.

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