Volkswagen brand deliveries fall 1.4% in 2024 by Reuters

(Reuters) – Global deliveries of the Volkswagen brand (ETR:) fell 1.4% to 4.8 million vehicles in 2024, with battery electric sales down about 2.5%, Europe’s largest carmaker said on Thursday.

Martin Sander, member of the Board of Directors of Sales, Marketing and After-Sales Services, said, “2024 was a difficult year globally,” pointing to the weak economy and intense competition in China, its largest market.

Deliveries in China, where it faces a growing array of electric-only domestic rivals, fell 8.3% to 2.2 million vehicles.

Battery electric vehicle sales reached just over 383,000, down from 394,000 last year, amid a regional decline in demand for electric vehicles.

However, deliveries in North America improved significantly to more than 592,000, an 18.4% jump.

The Volkswagen Group is expected to announce deliveries next week, with full-year results for 2024 on March 11.