golden palasyo Volkswagen deliveries fall in 2024 amid China woes
Updated:2025-01-14 03:35 Views:122
(FILES) The logo of German carmaker Volkswagen (VW) is pictured on the main plant of the group in Wolfsburg, northern Germany, on March 22, 2022. – German automotive giant Volkswagen said on September 2, 2024 it could close production sites in Germany, as the auto industry struggled to manage rising costs. (Photo by Yann Schreiber / AFP)
Berlin, Germany — Volkswagen vehicle deliveries fell 1.4 percent year-on-year in 2024, the German carmaker said on Thursday, dragged down by fierce competition in China.
The VW brand, part of the larger Volkswagen group which includes Audi and Lamborghini among others, sold some 4.8 million vehicles worldwide last year, it said in a statement.
jili slot game
Article continues after this advertisement
Deliveries rose around 20 percent in North and South America but shrunk 1.7 percent in Europe, the brand’s second-largest market by volume.
FEATURED STORIES
BUSINESS
68% of PH workers need to upskill, says WEF study
BUSINESS
Mining sector poised for growth
BUSINESS
Gen Zs driving boom: PH digital lending market to exceed $1B this year
READ: Tens of thousands strike at Volkswagen’s Germany plants
In China, VW’s most important market, sales plunged by 8.3 percent.
Article continues after this advertisement
“2024 was a tough year worldwide, with a weak economy, political challenges and tough competition — particularly in China”, VW executive Martin Sander said in a statement.
Article continues after this advertisement
In December, Volkswagen reached an agreement with unions to cut 35,000 jobs across Volkswagen’s German locations by 2030.
Article continues after this advertisement
The drastic cuts should save around four billion euros ($4.1 billion) a year in the medium term and avoid plant closures in Germany, which Volkswagen had previously warned might be required.
Other European carmakers are also struggling in the face of Chinese competition.
Disney said Monday it will name Bob Iger’s successor as chief executive in early 2026 as it tapped former Morgan Stanley CEO James Gorman as chairman of the entertainment giant.
If we look deep into our motivations, we might see that our attempts at finding love are really an attempt to find something constant in an inconstant world. Careers shift, friendships fade, even society can be rewritten with war, revolution, technological change, or environmental calamity. Is there anything we can hold on to?
Article continues after this advertisement
BMW warned investors in November that its performance for the year would fall short of expectations, citing weak demand in China.
Stellantis, whose brands include Jeep, Peugeot and Fiat, likewise said in September that Chinese competition would also hit its performance.
Chinese carmakers such as BYD and Xiamoi are able to supply electric cars at prices that European competitors struggle to match.
Your subscription could not be saved. Please try again.
Your subscription has been successful.
SIGN ME UP
The Volkswagen group publishes its full financial results for 2024 on March 11.golden palasyo
READ NEXT
SEC cancels registration of F2M Agri-Farm
Meralco sees cheaper power rates in January
EDITORS' PICK
9⁰C-level temperature seen for Baguio, upland Luzon in February
Marcos extends sympathy to LA wildfire victims: Stay safe, vigilant
Moderate to intense rainfall alert up in areas in Luzon and Visayas
Firefighters race to beat LA blazes as winds grow, death toll hits 16
A surreal finish to Donald Trump’s historic criminal trial
More villages affected by floods in Bicol
MOST READ
Greenhills Shopping Center stays on US watch list
Rep. Castro says INC rally a move to shield VP Sara Duterte
Pepsi Paloma script handed by intermediary to Vic Sotto's 'sibling who's a senator'
UAAP: Casiey Dongallo, Jelai Gajero leave UE, transfer to UP
Follow @FMangosingINQ on Twitter
-->
View comments
