The Volkswagen Group experiences lower-than-expected demand and gross sales of electrical automobiles, however intends to keep up its pricing to prioritize margins and profitability.
Within the nine-month monetary report, the corporate revealed that its order financial institution in Western Europe consists of 1.4 million automobiles, together with round 150,000 all-electric ones. It is a very fascinating knowledge level as a result of a yr in the past the corporate had round 300,000 all-electric automotive orders available. That is a reasonably deep 50 p.c lower.
Arno Antlitz, CFO & COO of Volkswagen Group, famous that orders elevated slowly in Q3, in comparison with the primary half of the yr, and this pattern is anticipated to proceed. It is a constructive, however solely time will inform whether or not this development might be sturdy sufficient to allow the corporate to broaden its electrical automotive enterprise.
Let’s recall that the Volkswagen Group’s BEV gross sales within the first 9 months of the yr amounted to 531,500 (up 45 p.c year-over-year), which represents about 7.9 p.c of the whole quantity. Europe accounts for 64 p.c of all VW Group’s BEV gross sales (341,100), which signifies that any points in Europe may have an amazing influence on the general outcomes.
The Volkswagen Group has set a goal to attain 8-10 p.c BEV share in 2023, and with 9.0 p.c in Q3, it appears that evidently the corporate is steadily shifting in direction of the objective.
In Western Europe, this shouldn’t be troublesome to attain. Even the lately unveiled order financial institution numbers, reveal 150,000 BEVs out of 1.4 million automobiles, which implies multiple in 10 new car orders are all-electric.
Within the U.S. there Volkswagen ID.4’s share within the model’s whole quantity in the course of the first 9 months of the yr amounted to virtually 12 p.c.
Fascinating issues are occurring in China, the place Volkswagen is dropping market share. Arno Antlitz expects that it’s going to proceed over the following one to 2 years till the brand new fashions, developed in partnership with XPeng, hit the market.