I=7
- Volkswagen Group deliveries grew by 10.7% y/y to 765,500 vehicles in October ( October 2022: 691,800 or +15.1% y/y).
- All regions saw growth in deliveries, with Western Europe deliveries growing by 11.3% y/y to 255,300- the lowest growth since August 2022 probably due to the impact of flooding in Slovenia, and China deliveries growing 5.1% y/y to 276,800 units.
- Volkswagen Passenger car deliveries grew by 6.6% y/y to 414,100 units, one of the best growth rates in the year despite impact of Slovenia flood, while Audi deliveries grew by 15.6% y/y to 152,400 vehicles.
- Deliveries from January to October stands at 7,481,300.
My take;
Assuming the 11.86% y/y average growth rate in the first 10 months of 2023 continue in November and December, Volkswagen will deliver 9,175,532 units (guidance 9-9.5million). Assuming no growth, Volkswagen will deliver 9 million units. However, the declining production of EVs due to lack of electric motors could impact deliveries in the current quarter though BEVs represented only 9% in Q3 2023.