volkswagen
Volkswagen Group has reported a 20% year-on-year drop in first quarter operating profit for 2024, as falling sales and increasing costs continued to bite. In addition, a disappointing brand, country and model mix also added to dampened results. The group's sales volume for the same quarter was down 2% compared to the corresponding quarter in 2023, which sold 2.1 million units. Sales revenue also decreased 1% year-on-year to €75.5 billion, with operating profit falling 20% to €4.6 billion. In the first quarter of the year, the South American market saw a 19% growth, with the Asia-Pacific market...
Euronews (English)
Global automakers and electric vehicle (EV) startups unveiled new models and concept cars at China's largest auto show on Thursday, with a focus on the nation's transformation into a major market and production base for new-energy vehicles – a trend that Europe's car manufacturing giants are struggling to keep up with. Toyota and Nissan both announced tie-ups with major Chinese technology companies as they strive to meet customer demand for AI-enabled online connectivity in cars, from social media apps to autonomous driving features. Chinese EV makers have been expanding rapidly into overseas ...
Euronews (English)
The company said in its latest financial update on 10 April that sales of all-electric vehicles declined by 24% in Europe, while sales grew by 91% in China, year-over-year. However, overall, the company said it increased its vehicle deliveries by 3% to 2.10 million vehicles with the main drivers being China, South America and North America. "Vehicles with combustion engines increased by 4% to 1.97 million units, overcompensating the slight decline of 3% to 136,400 all-electric vehicles (BEV). In this segment, strong growth in China (+91%) did not fully offset the decline in Europe (-24%). "How...
Euronews (English)
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