Global sales of Volkswagen cars fell last year. In particular, fewer cars were sold in China due to fierce competition from Chinese car brands.
According to Volkswagen’s parent company, sales have shrank 1.4 percent to around 4.8 million cars compared to a year earlier.
In the enormous Chinese market, Volkswagen saw sales fall by more than 8 percent. Sales also declined by 1.7 percent in Europe. On the other hand, significant increases were achieved in North and South America.
Sales director Martin Sander of Volkswagen passenger cars says 2024 was a difficult year due to the weak economy, political challenges, and intense competition, particularly in China. However, he indicated that he was optimistic about this year.
In December, the Volkswagen union agreed on a significant restructuring to save costs. In the coming years, 35,000 jobs will be lost at the brand, but there will be no forced redundancies. Closures of German Volkswagen factories will also be prevented.
In addition to the core brand of the same name, the Volkswagen Group also has brands such as Škoda, Audi, Seat and Porsche.
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