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Volkswagen AG (OTC:VWAGY) reported a 3% year-on-year increase in first-quarter FY24 deliveries to 2.10 million vehicles.
The growth was driven by an 8% increase in China, a 14% jump in South America, and a 5% climb in North America.
Deliveries of vehicles with combustion engines increased by 4% to 1.97 million units.
All-electric vehicles (BEV) deliveries declined by over 3% to 136,400, with China posting a 91% jump and Europe registering a 24% decrease.
The BEV order bank currently stands at around 160,000 vehicles, with a 154% increase in orders Y/Y.
Audi car deliveries fell 4.5% to 396,900 vehicles, and Porsche declined 3.9% to 77,600 in the first quarter.
“Our diversified product portfolio gives us the necessary flexibility to compensate for fluctuations in demand in certain segments – as is currently the case with all-electric vehicles – in others,” said Hildegard Wortmann, Member of the Group’s Extended Executive Committee for Sales.
Piece Action: VWAGY shares closed lower by 0.44% at $15.98 on Tuesday.
Photo by Ivan Radic via Flickr
Posted In: VWAGY
