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Volkswagen Global Sales Decline As Chinese Rivalry Heats Up
Global sales of Volkswagen brand cars fell last year, as fewer cars were sold, especially in China, due to fierce competition from Chinese car brands.
According to parent company Volkswagen Group, Volkswagen sales shrank by 1.4 percent to around 4.8 million cars compared to a year earlier. In the large Chinese market, Volkswagen saw sales fall by more than 8 percent. There was also a decline in Europe, by 1.7 percent. On the other hand, there were significant increases in North and South America.
Volkswagen Passenger Cars Sales Director Martin Sander said 2024 was a difficult year. This is due to the weak economy, political challenges, and strong competition, especially in China. He did say he was optimistic about this year. In December, an agreement was reached with the Volkswagen trade union on a major restructuring to save costs. In the coming years, 35,000 jobs will be lost at the brand, but there will be no forced redundancies. Closures of German Volkswagen factories will also be avoided.
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