The Volkswagen Group has recorded its lowest sales in more than a decade, with COVID-19 lockdowns in China and Russia’s invasion of Ukraine disrupting supply lines, and a fourth-quarter rebound risks facing additional obstacles this year.
The German automaker, whose brands span from VWs and Skodas to Audis and Bentleys, reported on Thursday that it delivered 8.3 million vehicles to consumers in 2022.
This means it will remain in second place internationally for the third consecutive year, behind the Toyota Group of Japan, which had manufactured nearly 9.5 million automobiles by November.
Hildegard Wortmann, a member of the extended executive sales committee, stated that poor economies and supply chain problems continue to cast a shadow over the prognosis for 2023.
The Volkswagen Group’s deliveries increased by 12 percent in the second half of the year, but the full-year total was negatively impacted by a decline of more than 20 percent in the first half.
However, it retained its position as Europe’s leading manufacturer of battery-electric vehicles and experienced a 26% growth in global sales of all-electric vehicles, helped by a nearly two-thirds increase in China.
In 2023, the company aims to have 11% of its sales be all-electric, a stepping stone toward its 2030 goal of having 50% of its sales be electric.