Volkswagen Group production is being restored
2023.01.12 06:26
Volkswagen Group production is being restored
Budrigannews.com – (ETR:) The Volkswagen Group reported on Thursday a 14.3% increase in sales for the fourth quarter. However, the company was unable to reverse a significant decrease in output during the first half of 2022, resulting in a 7% decrease in sales for the entire year.
The automaker saw an increase in sales of 12% in the second half of the year, but total output fell by more than 5% in the first half due to supply chain disruptions caused by the war in Ukraine and COVID-19 plant closures in China.
Nonetheless, it remained Europe’s leading manufacturer of battery-electric vehicles and saw a 26% increase in all-electric vehicle sales worldwide, aided by a nearly two-thirds increase in China.
The automaker wants to make all-electric sales account for 11% of total sales in 2023, which is a step toward its 2030 goal of making half of all sales entirely electric.
In the fourth quarter, premium brands Bentley, Lamborghini, and Audi saw sales rise by 26.1 percent compared to the same time last year.
Hildegard Wortmann, a member of the sales committee, stated that the company was optimistic about 2023 in spite of the ongoing shortages in the supply chain and a weakening macroeconomic environment.
