Oct 12 (Reuters) – German automaker Volkswagen reported a 14.3% decline in global deliveries in the third quarter on Monday, its sharpest drop in more than four years, as weakness in China, its largest market, continued to weigh on sales.
Deliveries, a closely watched proxy for sales, fell to 1.89 million vehicles in the quarter.
Deliveries in China tumbled 38.5% in the quarter and were down 30.2% in the first nine months of the year. Deliveries fell 5.8% in North America and 2.8% in Western Europe, but rose 1.4% in Central and Eastern Europe.
“The sharp decline in the overall market in China remains an industry-wide challenge,” Martin Sander, a member of the group’s extended executive committee, said in a statement.
The drop in deliveries was Volkswagen’s steepest since a 22.4% decline in the second quarter of 2022.
Volkswagen is the latest German automaker to report deteriorating sales in China after Porsche and Mercedes-Benz both posted weaker delivery figures last week.
Global deliveries of battery-electric vehicles fell about 5% in the quarter despite a near 20% increase in Europe, reflecting weaker demand in China and growing competition from domestic manufacturers.
(Reporting by Danny Callaghan; Editing by Matt Scuffham)
