The European and Asian markets experienced the worst decline, with sales of the electric Taycan falling sharply by 47%. In the luxury car sector, other high-end European brands such as BMW and Mercedes-Benz are also experiencing similar sales pressure.
At a critical moment in the global transition to electric vehicles, German car giant Volkswagen is still facing serious sales challenges.
In the third quarter, VW's global sales fell 7%, with the European and Asian markets having the worst decline. In particular, sales of the electric Taycan dropped sharply by 47%.
Volkswagen's luxury brand Porsche hit a record low in sales in China for the current quarter in nearly 10 years.
In addition, sales of Volkswagen's pure electric vehicles have also declined significantly in Europe and the US, falling by 12% and more than 40%, respectively.
German luxury cars collectively suffered a setback, and sales were sluggish
Marco Schubert, head of sales at Volkswagen, said that the competitive situation in China is particularly intense, which is the main reason for the decline in the company's global sales volume.
In the luxury car sector, other high-end European brands such as BMW and Mercedes-Benz are also experiencing similar sales pressure.
Yesterday's Mercedes report showed that the Group sold 594,600 cars and trucks in the third quarter, down 3% year on year; sales of pure electric vehicles fell 31% to 46,900 units.
In the third quarter, deliveries of Mercedes China fell 13% to 170,700 units, and demand for expensive models such as the S-Class and Maybach sedans was sluggish.
Furthermore, overall sales of Mercedes' premium cars fell 12% this quarter. Some analysts pointed out that this marks a setback in Mercedes' attempt to further strengthen its position as a high-end brand. It is also another warning sign for the German luxury car market:
“The market environment for electric vehicle sales is still sluggish, and pricing competition is fierce in important markets.”
BMW Group's third-quarter sales fell 13% year over year. Sales of the BMW and Mini brands in China fell 30% in the third quarter, the biggest drop in more than four years.
However, BMW said it had previously urgently recalled 1.5 million vehicles due to braking system failure, and this part also affected delivery data.