Volkswagen and Audi Report Decline in 2024 Sales

Volkswagen's global sales dropped by 2.3% in 2024, with a notable 9.5% decline in China due to intense competition from local automakers and decreased demand for electric vehicles in Europe and the U.S. Despite meeting its internal sales target, Volkswagen's subsidiary Audi experienced an 11.8% fall in sales, attributed to challenging economic conditions and limited parts availability. Audi's electric vehicle sales were also down by 8%, despite the introduction of new models like the Q6 e-tron. Volkswagen plans to cut production capacity and staff to reduce costs, while both Volkswagen and Audi focus on updating their product lineups to recover sales. Toyota is expected to maintain its position as the world's top automaker for the fifth consecutive year after surpassing Volkswagen in total units sold.