Finance
Volkswagen sales drop in tough year at home and in China
Published by Global Banking & Finance Review®
Posted on January 14, 2025
2 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 14, 2025
2 min readLast updated: January 27, 2026
Volkswagen's 2024 sales fell 2.3% amid a China price war. Electric vehicle sales rose in China, while Skoda and SEAT/CUPRA outperformed the main brand.
BERLIN (Reuters) - Volkswagen's unit sales fell 2.3% in 2024 to just over 9 million vehicles, the German automaker reported on Tuesday, as it struggles to cut costs at home and fight a price war in China, its biggest market.
The company's unit sales in Germany dipped 2.2%, while in China, it dropped 10% in what it described as a "fierce price war".
Still, battery-electric sales performed better in China, increasing 8% compared with a 3.4% drop globally.
Volkswagen had revised down its 2024 deliveries forecast to around nine million in September because of challenges at its namesake brand, which launched a cost-cutting drive to boost profits amid rising competition and shrinking demand.
Sales data from Germany's top-end carmakers, including Mercedes-Benz, BMW and Porsche, showed they took a battering at home and in China in 2024, as wealthier consumers held back on purchases in uncertain economies and on slower than expected electric vehicle sales.
The Skoda and SEAT/CUPRA brands outperformed Volkswagen Passenger Cars, with growth of around 7% compared with a 1.4% drop at the namesake brand.
Volkswagen is releasing another 30 models this year across the group and said its order intake was up in western Europe by around 88% year-on-year, driven by new models like the VW ID.7 Tourer, Audi Q6 e-tron and Porsche Macan Electric. (This story has been refiled to specify sales in unit terms in paragraphs 1 and 2)
(Reporting by Victoria Waldersee. Editing by Matthias Williams and Mark Potter)
The article discusses Volkswagen's sales decline in 2024, focusing on challenges in China and Germany.
Volkswagen's sales in China dropped 10% due to a fierce price war, though electric vehicle sales increased by 8%.
Volkswagen plans to release 30 new models this year, with significant order intake growth in western Europe.
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