Despite rising demand for second-generation plug-in hybrid and range-extender models, deliveries in China still plunged 39%. Volkswagen Group's global battery electric vehicle deliveries fell 4.7% year on year. Hit by the Chinese market, the German auto giant's total vehicle deliveries declined in the third quarter.
The group, which owns multiple brands including Volkswagen, Audi and Porsche, reported on Monday that its total vehicle deliveries for the quarter fell 14% year on year to 1.89 million units.
Volkswagen Group said: "Volkswagen Group was unable to decouple itself from the sharp overall downturn in China's auto market, with the internal combustion engine business particularly hard hit."
According to the earnings report, although market demand for the group's second-generation plug-in hybrid and range-extender models showed some recovery, deliveries in the Chinese market still plummeted 39% in the quarter to just 405,800 units.
Apart from Central and Eastern Europe, Volkswagen's deliveries declined across all other regions globally; deliveries in Western Europe fell 2.8%, while deliveries in North America dropped 5.8%.
Volkswagen Group stated that the transition to battery electric vehicles in its home market is accelerating significantly. The group's global battery electric vehicle deliveries fell 4.7% year on year to 240,200 units; Europe was the only region to achieve growth in its battery electric business.
Martin Sander, the group's board member for sales, said: "In our home market of Europe, the shift toward battery electric vehicles is clearly picking up speed. The main drivers are currently high fuel prices and a further enriched lineup of entry-level models."
Comments