The Volkswagen Group showcases its first half of 2023 results recently. While the results show a 48% rise in electric vehicle deliveries. Regardless of the expectations for a higher proportion of EV sales in the second half of the year,
Volkswagen EV deliveries 2023
Under the Volkswagen Group umbrella of brands, it includes VW, Audi, Skoda, Cupra, Porsche, and more. The automaker delivered an average of 322K EVs in the first half of the year. This demonstrates a 48% increase in year-over-year sales.
When it comes to EVs then it is responsible for 7.4% of total Volkswagen deliveries. This record is with respect to H1 2022 which is 5.6%. This comprises 18% YOY growth in China, whereby the company competes with low-cost domestic EVs.
The growth starts to begin after the CEO of Volkswagen Passenger Cars, Thomas Shafer, notified top employees at the beginning of this month, “The roof is on fire. This is the final wake-up call.” As per German media outlet Manager Magazin.
The VW Group generates approximately 40% of its revenue from China, that’s the ultimate reason why this market is automakers’ top priority. It is noted that Volkswagen established itself as a market leader in China. While it fell behind China’s BYD in passenger car sales in the first half of the year as a domestic EV maker and keeps on expanding a bigger market share.
In order to maximize its sales, the Volkswagen Group has associated with some other EV makers in China recently. While Audi confirmed it was teaming up with SAIC Motors before this week intended to develop new EVs in the region.
VW invested in XPeng Motors
Freshly, VW invested $700M for around a 5% stake in XPeng Motors. VW preparing to introduce two models with the help of a strategic partnership. The same going to start in early 2026. Moving forward, the German automotive company expects an increased proportion of BEV sales in the second half of the year. This is with respect to “seasonal effects” and “significantly reduced delivery times.” For EVs, it aims of having 8% to 10% of its total delivery share for the year.
Volkswagen focuses on lower down the overall delivery guidance by around 500K units for the year. Also, the primary reason for the delay is shifted from the semiconductor shortage to transportation and logistics delays.