Gained market share in Europe
Volkswagen’s China business is recovering
October 13, 2023, 12:28 p.m
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A price war is raging on the car market in China. This is causing a lot of problems for the Volkswagen Group, which has seen significant declines in sales in recent quarters. This trend seems to have broken, but the company is achieving great success elsewhere.
Volkswagen’s sales decline in China is slowing. In September, the company said it sold 0.9 percent fewer vehicles in the People’s Republic. The decline was therefore significantly smaller than in previous months. For the third quarter, there was still a decline of 5.8 percent to 837,200 vehicles, three percent less since the beginning of the year.
There is currently a price war raging on the Chinese market; Chinese car manufacturers want to capture market share in their home market. Volkswagen delivered a good 2.3 million vehicles worldwide in the third quarter, 7.4 percent more than a year ago. Significant increases in Western Europe and North America more than offset the decline in China.
Since the start of the year, a good 6.7 million cars have been delivered worldwide, 10.9 percent more than in the previous year. Sales of electric cars have increased by 45 percent to 531,500 vehicles since January. Their share of total deliveries is 7.9 percent.
Sales boss Hildegard Wortmann said that Volkswagen was able to gain market share in Europe, although there was a reluctance to buy in the market across the industry. “As the general market development falls short of expectations, our order intake is below our ambitious targets,” she admitted.