Volkswagen (VWAGY.US) global deliveries in 2024 decreased by 1.4%, with electric vehicle sales falling by approximately 2.5%.

Europe's largest car manufacturer, Volkswagen (VWAGY.US), said on Thursday that global deliveries of its brand fell by 1.4% to 4.8 million units in 2024, with electric car sales dropping by about 2.5%. "2024 was a challenging year globally," said Martin Sander, board member responsible for sales, marketing, and aftersales, noting intense competition in the company's largest market, China. In China, the company faces increasing competition from domestic pure electric rivals, with deliveries dropping by 8.3% to 2.2 million units. Due to declining demand for electric cars in the region, pure electric car sales decreased from 394,000 units in the previous year to just over 383,000 units. Nevertheless, deliveries in North America showed significant improvement, surpassing 592,000 units, an increase of 18.4%. Volkswagen Group is expected to announce its delivery figures next week, with full-year performance for 2024 set to be revealed on March 11th.