Volkswagen Group: Sales Performance in 2024
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Volkswagen Group reported global sales of 9.03 million vehicles in 2024, marking a decline of 200,000 units compared to 2023. This drop was primarily attributed to challenges in key markets, especially in the Asia-Pacific region, where sales fell by 10.3%, including a 9.5% decline in China.
Conversely, the group achieved notable growth in South America, with a 14.7% increase in sales, led by Brazil, which saw an 18.2% rise. In North America, sales grew by 6.4%, with the United States recording a 2.0% increase, driven by the strong performance of models like the Atlas, Tiguan, and Jetta.
In Europe, sales remained steady at 3.77 million units. While Western Europe experienced a slight decline of 0.4%, Central and Eastern Europe saw growth of 1.7%. However, the German market registered a 2.2% decrease.
Despite these challenges, Volkswagen remains a leader in the European electric vehicle (EV) market, holding a 21% market share. Globally, EV sales dropped to 744,800 units, a 3.4% decrease compared to the previous year"s 771,100 units.
At the brand level, Volkswagen maintained its dominance in Europe with over 1.2 million vehicles sold. Globally, however, sales declined by 4.8%, impacted by reduced demand in China and Europe.
Despite facing challenges in certain markets, Volkswagen Group continues to solidify its position as a global leader, particularly in the electric vehicle sector, with promising prospects for future growth.