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Volkswagen’s Q2 2025 deliveries rose 1.2% year-over-year to 2.27 million units, keeping the company on track to meet its full-year guidance of 9 million units
- Volkswagen Q2 2025 deliveries rose 1.2% y/y to 2.27 million units (Q1 2025: 2.13 million or +1.4% y/y).
- Management guided 2025 deliveries to be flat y/y at 9 million units and Q1 was expected to be a weaker quarter.
- North America deliveries fell 16.2% y/y to 224,700 units, China deliveries rose 2.8% y/y to 669,700 units while Western Europe deliveries were down 0.7% y/y to 884,500.
- Its share of all-electric vehicles in Europe was 18.4% up from 10.7% in Q2 2024 while all drive type incoming orders rose 19%.
Assessment
Volkswagen is on track to meet its 2025 guidance of 9 million vehicle deliveries. However, tariff headwinds could become more pronounced in the second half of the year, as Porsche, Audi, and Volkswagen of America provided price protection associated with the tariffs during Q2.