What’s Happening
The Volkswagen Group reports a momentous increase of nearly 50% in battery electric vehicle (BEV) deliveries within the first half of 2023. An impressive 321,600 BEVs were handed over to customers during this period, a significant rise from 217,200 during the same period in the previous year. In the highly competitive European market, the group saw an increase of 68% in deliveries to 217,100 vehicles.
Why It Matters
This growth in electric vehicle deliveries indicates Volkswagen’s commitment to a sustainable, electric future. The 50% increase is evidence of their strategic transformation and reflects their leading position in the European EV market. The positive trend in incoming orders, particularly after initial customer hesitation due to reduced subsidy programs and high inflation, suggests a strong future outlook for Volkswagen’s electric vehicles.
Key Points
Volkswagen witnessed a 48% year-on-year growth in BEV deliveries with the total number reaching 321,600 vehicles. This propelled BEVs’ share of total deliveries from 5.6% in H1 2022 to 7.4% in H1 2023. The highest growth was achieved in Europe with a 68% increase, followed by the USA with a 76% increase to 29,800 vehicles. Although China, a highly competitive market, saw a slight dip of 2% in deliveries, a recent positive trend promises potential growth. The Volkswagen brand took the lion’s share of BEVs in the Group, delivering 164,800 vehicles by the end of June, followed by Audi, ŠKODA, SEAT/CUPRA, Porsche, and Volkswagen Commercial Vehicles.
Bottom Line
This considerable increase in electric vehicle deliveries underscores Volkswagen Group’s successful adaptation to a greener, sustainable future. Despite initial challenges, their rise in the BEV market signifies a growing acceptance and demand for electric vehicles among consumers. The Group’s competitive advantage in the European market, and promising trends in the US and China, may forecast continued success in their ongoing transformation toward sustainable mobility. Their leading models include the Volkswagen ID.4/ID.5, Volkswagen ID.3, Audi Q4 e-tron, ŠKODA Enyaq iV, and Audi Q8 e-tron have significantly contributed to the first-half success of 2023.
