Volkswagen EV sales marginally affected by slowing demand
Volkswagen’s electric vehicle (EV) sales for the first half of 2024 (H1) have been marginally affected by slowing demand. The German automaker reported “the same delivery level as 2023” for the first half of 2024.
Volkswagen reported delivering 4.25 million vehicles worldwide for H1 2024 compared to 4.37 million in the first half of 2023. VW’s EV sales slightly dropped compared to H1 2023. The legacy automaker delivered 317,200 EVs in the first and second quarter of 2024, down 321,600 EVs in 2023.
However, the order for all-electric VW vehicles increased by 124% in West Europe. This increase suggests that more Europeans are transitioning to electric vehicles. Unfortunately, EV adoption is still an uphill battle for Volkswagen.
Earlier this week, the German automaker warned that its Brussels site for Audi might have to close due to dealing demand for luxury electric vehicles in Europe. Slowing demand for luxury EVs has forced the company to cut its margin target for the current year.
Sources close to Volkswagen stated that demand for the Audi Q8 e-tron sharply declined, prompting the automaker to consider ending production. VW shared that finding an alternative use for the Brussels plant versus closing it could cost up to $2.8 billion in the 2024 financial year.
The “slowing demand” for electric vehicles has been linked to high prices, prompting EV automakers to turn toward producing more affordable battery-powered cars. However, it will take automakers some time to design an affordable EV and then bring it to production.
First half of 2024: same delivery-level as 2023.
Three key facts:
● Global deliveries: 4.35m (H1 2023: 4.37m)
● All-electric vehicles slightly below 2023 (317,200 vehicles vs. 321,600 vehicles)
● West-EU orders, all-electric vehicles: +124% (H1 2024 vs. H1 2023)— Volkswagen Group (@VWGroup) July 10, 2024
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Source: https://www.teslarati.com/volkswagen-ev-sales-marginally-affected-by-slowing-demand/
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