Two thirds of all Volkswagen Group car deliveries were sent to Western Europe and China in 2024. The only other market with a double-digit delivery share was North America with 11.7 percent. Despite China still being important to the Volkswagen Group, the intensifying competition led to a drop in total deliveries by ten percent compared to 2023. Other Asian countries also seem to have lost interest in the Volkswagen Group portfolio.
In all other Asian-Pacific countries except China, annual deliveries were down 18 percent. Even Western Europe, Volkswagen Group's core market, saw a slight contraction by 0.4 percent. Total deliveries were above nine million for 2024, but shrank by 2.3 percent compared to the year prior. Nevertheless, member of the Group’s Extended Executive Committee for Sales Marco Schubert attested the company a "solid performance" for 2024 in a recent press release.
Zooming in on the market for battery electric vehicles (BEVs), Volkswagen Group allegedly remained the market leader in Europe, but saw an even bigger contraction in deliveries in 2024. Less than ten percent of all cars delivered were BEVs, and the total delivery figure dropped by 3.4 percent compared to 2023. How this decline in deliveries is reflected in the company's fiscal performance remains to be seen, with full-year results expected in March. Looking at the twelve-month trailing revenue, Volkswagen Group still sits at the top of all publicly traded car manufacturers with $355 billion according to Companies Market Cap.
