Volkswagen Global Deliveries Drop 14.3% Amid China Slump
Volkswagen reported its sharpest global delivery decline in four years, driven by a 38.5% collapse in its largest market, China.
Volkswagen Group reported a 14.3% decline in global deliveries during the third quarter, the sharpest drop for the automaker in more than four years. Total deliveries fell to 1.89 million vehicles, a downturn primarily caused by a 38.5% collapse in the Chinese market.
While Central and Eastern Europe saw a slight increase of 1.4%, deliveries decreased by 5.8% in North America and 2.8% in Western Europe. Global battery-electric vehicle deliveries fell approximately 5%, as strong growth in Europe was unable to offset weak demand and rising competition from domestic manufacturers in China.
Martin Sander, a member of the company's extended executive committee, stated that "The sharp decline in the overall market in China remains an industry-wide challenge." This trend mirrors recent reports of weakening Chinese sales from other German automakers, including Porsche and Mercedes-Benz.
