Business · Companies · 4 hrs ago

Volkswagen vehicle deliveries fall 14.3% in the third quarter

Volkswagen vehicle deliveries fall 14.3% in the third quarter

Volkswagen delivered about 1.9 million vehicles worldwide from July to September, 14.3% fewer than in the same period a year earlier.

The German carmaker, based in Wolfsburg, also reported a 9% fall in deliveries during the first nine months of the year.

China was the main pressure point: deliveries there fell 38.5% in the third quarter amid a shrinking market, price pressure and competition from local manufacturers.

Growth in Europe and South America was not enough to offset that decline.

Volkswagen’s brands also had mixed results: Audi and Porsche deliveries fell, while Skoda was stable and its commercial vehicle group Traton grew.

Electric car demand offered a brighter picture in Europe, where orders rose by more than half in the third quarter and four upcoming models had nearly 150,000 orders.

The company said its locally developed electric models in China were beginning to have an effect, but its global electric vehicle deliveries still fell in the quarter.

Sources

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