Volkswagen Group Delivers 3% More Vehicles In Q1 2024, BEV Orders Surge In Europe

The Volkswagen Group has recently unveiled its performance metrics for the first quarter of 2024, showcasing a notable 3% increase in global deliveries, amounting to a total of 2.10 million vehicles. This growth trajectory is primarily attributed to significant market expansions in China, South America, and North America, with delivery increases of 8%, 14%, and 5% respectively. Despite a slight downturn in the fully electric vehicles (BEVs) sector, which saw a 3% decrease to 136,400 units, the surge in vehicles equipped with combustion engines, which rose by 4% to 1.97 million units, has been pivotal in maintaining the Group's upward momentum.

Hildegard Wortmann, a key figure within the Group's Extended Executive Committee for Sales, has voiced optimism regarding the future of the all-electric segment. This confidence is bolstered by a significant uptick in BEV order intake in Western Europe, which has more than doubled compared to the previous year, marking a 154% increase and culminating in an impressive order bank of around 160,000 vehicles. In response to this burgeoning demand, Volkswagen is set to introduce over 30 new models in 2024, with a focus on expanding its all-electric vehicle lineup.

Delving into regional specifics, Europe's delivery figures remained relatively stable at 906,700 vehicles despite a marginal decline of 0.3%. A nuanced look reveals a 1% decrease in Western Europe juxtaposed against a 2% rise in Central and Eastern Europe. North America and South America have emerged as strongholds of growth for the Group, with respective increases of 5% and 14% in deliveries. The latter region's performance was particularly robust in Brazil, where deliveries soared by 26%. The Asia-Pacific region also contributed positively with a 5% increase in deliveries, largely driven by China's robust market—the Group's largest single market.

Among the all-electric models, the Volkswagen ID.4/ID.5 led the pack globally in the first quarter of 2024 with 34,600 units delivered. Other models that found success include the Volkswagen ID.3, the Audi Q4 e-tron, and the Škoda Enyaq.

The Volkswagen Group's solid delivery performance during this period underscores its adeptness at navigating through challenging market conditions and adapting to dynamic demand fluctuations. With a diversified product portfolio and strong growth in BEV order intake in Europe, the Group is well-positioned for sustained growth in the all-electric vehicle segment. The anticipated launch of new models throughout the year is expected to further bolster the Group's growth trajectory.