Volkswagen Group reports sales decline, led by electric models [Yahoo! Finance]
PORSCHE AUTOMBL UNSP/ADR (POAHY)
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Source: Yahoo! Finance
Total worldwide sales in March across Volkswagen's brands fell by 1.4% to 800,600, the company announced on Wednesday. Sales declined in the key markets of Europe and China, among others. Sales rose, however, in North America, and sales for the core Volkswagen and SEAT brands grew. Sales for higher-priced luxury carmakers Audi and Porsche declined, however. In the first quarter as a whole, the Volkswagen Group delivered 2.1 million vehicles, about 3% more than in the previous year. The main growth drivers were China as well as South and North America. In Western Europe, including in Volkswagen's home market of Germany, sales fell by 1%. Sales of combustion engine powered vehicles rose by 4% to 1.97 million in the first three months of 2024, more than offsetting the decline in sales of all-electric models, which dropped by 3% to 136,400 vehicles. Deliveries of electric vehicles fell particularly sharply in Europe, down 24%, pushing overall electric vehicles sales for the com
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