Volkswagen vehicle deliveries fell 1.4 % year-on-year in 2024, the German carmaker said on Thursday, dragged down by fierce competition in China. In China, VW's most important market, sales plunged by 8.

Volkswagen saw sales drop in China and Europe, but they were practically offset by significant gains in North and South America

The Volkswagen brand's global deliveries fell 1.4% to 4.8 million vehicles in 2024, with battery-electric sales down around 2.5%, Europe's top carmaker said on Thursday.

Key Takeaways XPeng and Volkswagen will work together to build a network of electric vehicle charging stations in China. The two carmakers expect to produce more than 20,000 charging units to be installed in 420 cities.

The redesigned Model Y, set for delivery in March, targets increased market share as Tesla faces competition from Xiaomi and BYD

Volkswagen (OTCPK:VLKAF) announced on Thursday that it delivered around 4.8 million vehicles globally in 2024, despite headwinds such as sluggish economic activity, political challenges, and intense competition in regions like China.

Volkswagen has ramped up its focus on China via an investment in Xpeng and an aggressive electric vehicle launch schedule.

German automaker Volkswagen and Chinese electric car firm Xpeng announced Monday plans to expand new super-fast charging stations across China, opening their networks to each other.

An “elimination round” is likely to cull weaker players in a market dominated by EVs and plug-in hybrids. Among the early losers are foreign brands.

This year has been troubling for almost all foreign carmakers in that country, which boasts the world’s largest car market.

With car exports up 25% to 4.8 million units, according to the China Passenger Car Association (CPCA) data, China probably ranked as the world's largest auto exporter ahead of Japan for a second consecutive year in 2024 despite additional tariffs on China-made electric vehicles the European Union introduced in late October.