Volkswagen deliveries post steepest drop in more than four years as China weakness deepens

Oct 12 — German automaker Volkswagen reported a 14.3% decline in global ​deliveries in the third quarter on Monday, its sharpest drop in more than ‌four years, as weakness in China, its largest market, continued ⁠to weigh on sales.

Deliveries, ​a closely watched proxy ⁠for sales, fell to 1.89 million vehicles ‌in the ‌quarter.

Deliveries in China tumbled 38.5% in the quarter ⁠and were down ⁠30.2% in the first nine months of the year. Deliveries fell 5.8% in North America and 2.8% in Western Europe, but rose 1.4% in Central and Eastern Europe.

"The sharp ‌decline in the overall market ​in China remains an industry-wide challenge," Martin Sander, a member of the group's extended executive committee, said in a statement.

The drop in deliveries was Volkswagen's steepest since a 22.4% decline in the second quarter of 2022.

Volkswagen is ​the latest German automaker to report deteriorating ‌sales in China ‌after ⁠Porsche and Mercedes-Benz both posted weaker delivery figures last week.

Global deliveries of battery-electric vehicles fell about 5% in the quarter despite a near ‌20% increase in ​Europe, reflecting weaker demand ‌in China and ⁠growing competition ​from domestic manufacturers.

(Reporting by Danny Callaghan; Editing by Matt ​Scuffham)

Related topics