I=7
- Volkswagen Group deliveries fell by 1.1% y/y to 698,200 in February, hit by a sharp decrease in China.
- China deliveries declined 16.3% y/y to 290,900 while deliveries to Western Europe rose by 5.6% y/y to 224,600, an improvement from -3% in January.
- However, in the first two months of 2024, total deliveries are up 6.1% to 1.30 million.
- Among the major brands, Audi saw the highest decline of 13.4% y/y to 108,400, probably due to the supply chain problems highlighted by the company in their recent earnings call.
https://www.investmentwiki.org/wiki/Volkswagen:Deliveries/FY2024
Assessment
It’s good to see the overall growth rate (+6.1%) in the first two months exceeding the management’s overall guidance of 3% for 2024.
It is also good that Volkswagen ouperformed the overall market growth rate in China (-21%) this time round.