Volkswagen handed over 394,000 EVs in 2023. Though EV deliveries had been up 21% from final yr, they nonetheless represented lower than 9% of the VW model’s whole deliveries. The corporate mentioned it expects the market to “stay difficult” this yr.
The Volkswagen model handed over 394K EVs in 2023
The Volkswagen model introduced totally electrical car gross sales grew by 21.1% in 2023, with round 394,000 EVs handed over.
Its largest markets included China, Germany, the US, the UK, Sweden, France, Norway, and Belgium. VW delivered round 30,000 ID.4 fashions in Germany, up 62.9%. Within the US, round 38,000 ID.4 electrical SUVs had been handed over (+84.2% YOY).
In China, VW’s most necessary market (with ~40% of gross sales), over 75,000 ID.3 EVs had been handed over, an over 200% enhance.
Regardless of this, Volkswagen EVs represented solely 8% of the full 4.87 million autos offered final yr. The automaker reduce EV manufacturing a number of occasions final yr, citing slowing demand.
Volkswagen’s CFO Arno Antilitz mentioned EV orders fell to 150,000 in Europe final October. That’s half of the 300,000 VW had final yr at the moment.
Hildegard Wortmann, who oversees VW’s advertising and gross sales, defined that the decrease order consumption was “as a result of lower-than-expected total market pattern.” In accordance with Wortmann, the expansion in EV gross sales final yr was due to a better backlog.
VW confronted a number of provide chain points that prolonged supply occasions and are actually being labored out. The VW Group mentioned it anticipated EV gross sales share to succeed in round 8% to 10% in 2023, down from 11%.
The automaker hopes its refreshed ID.4 and ID.5 may also help jumpstart gross sales. VW’s up to date EVs characteristic longer vary and added tech.
In the meantime, Volkswagen slashed EV costs in Europe earlier this week because it appears to compete with Tesla. Tesla’s Mannequin Y appears to be the best-selling automobile (electrical or fuel) in 2023 because the EV chief continues increasing its community.
VW fell behind Tesla in US market share as EV adoption continues climbing. Tesla ended 2023 with 4.2% share of the US auto market.
Electrek’s Take
Whereas Volkswagen appears to make up for misplaced time, different automakers are pulling forward. Many automakers are already at double-digit (or 100%) EV gross sales.
Volkswagen EVs accounted for 8.3% of whole deliveries in 2023. That’s up 1.4% from 2022 (6.9%). In the meantime, different automakers, like Volvo, are already reaching over 15% EV share.
Volvo offered over 113,000 EVs final yr, up 70% in comparison with 2022 (66,749). The Swedish automaker has a number of new fashions, together with the EX30 (take a look at our evaluate), beginning at $35,000, that it expects to gasoline EV gross sales in 2024.
Jim Rowan, Volvo’s CEO, mentioned, “We aren’t seeing any order cancellations or any slowdown so as consumption,” regardless of the reported “EV market slowdown.”
Whereas Volvo goals to be an all-electric model by 2030, VW targets 50% EV gross sales. Automakers like Volvo and Hyundai, who’ve dedicated to EVs, are reaping the rewards as others fall behind.
Volkswagen hopes new EVs just like the ID.7 may also help spark development in 2024. Nevertheless, Imelda Labbé, VW Board Member, mentioned, “We anticipate the market atmosphere to stay difficult in 2024.” The corporate believes it’s within the “proper place” with an up to date lineup.
Will VW spark EV development in 2024? Or will it fall additional behind leaders like Tesla because the trade shifts to electrical? Tell us what you suppose within the feedback.
