“Volkswagen’s 2024 sales fell 2.3% to just over 9 million vehicles as it tries to cut costs at home and wage a price war in China, its biggest market.”, — write: epravda.com.ua
Volkswagen’s 2024 sales fell 2.3% to just over 9 million vehicles as it tries to cut costs at home and wage a price war in China, its biggest market. Reuters writes about it. The company’s sales fell 2.2% in Germany and 10% in China due to what the company called a “fierce price war”. Still, sales of electric cars in China rose 8% compared to a 3.4% drop globally.Advertisement: In September, Volkswagen revised its 2024 supply forecast to around nine million due to problems at the namesake brand, which launched the campaign from cutting costs to increase profits amid growing competition and shrinking demand. Sales data from top German automakers, including Mercedes-Benz ( MBGn.DE ), BMW and Porsche, showed they suffered big losses at home and in China in 2024 as affluent consumers held back purchases amid a shaky economy and slower, than expected sales of electric vehicles. Skoda and SEAT/CUPRA brands outperformed Volkswagen passenger cars, showing growth of around 7% compared to a 1.4% drop for the brand of the same name.Advertisement: Read also: Made in Germany no longer works: why Volkswagen is forced to close factories Recall: German workers of the Volkswagen automobile concern on Monday, December 2, started a warning strike. It will last two hours for workers on each shift at nine of VW’s ten plants in Germany. Volkswagen has abandoned a number of labor agreements, including a job guarantee until 2029, raising the possibility of layoffs starting in 2024. Volkswagen expects to deliver fewer vehicles in 2024 than in 2023, marking the fourth drop in sales in five years. Volkswagen workers stepped up pressure on the company’s management with fresh strikes at German plants as a fourth round of talks was set to begin in an increasingly bitter standoff over wage cuts and plant closures.