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Volkswagen Global Deliveries Drop In The Third Quarter
The Volkswagen Group reports a 7% drop in global deliveries in the third quarter, showing the extent of the challenges facing the European automotive sector.
Europe’s leading carmaker is going through major challenges as it considers closing German factories for the first time due to weak European demand, competition from China, challenges posed by vehicle electrification and high production costs in Germany.
“A better cost base, especially in Germany, is key to remaining successful in this environment in the future,” executive board member Marco Schubert said.
Volkswagen’s deliveries to China, the world’s largest car market, fell 15% to 711,500 units, joining its premium rivals BMW and Mercedes. That brought the global figure down to 2.176 million vehicles.
