#Regions

The TRATON GROUP kept unit sales at a stable level in 2024, despite a difficult market environment. According to preliminary data, the four brands Scania, MAN Truck & Bus, International (formerly Navistar), and Volkswagen Truck & Bus sold a total of 334,200 vehicles, a slight year-on-year decline of 1% (338,200).

Audi delivered around 1.7 million vehicles worldwide in 2024. More than 164,000 of those were fully electric models. Reasons for this overall decline of almost 12 percent (8 percent for fully electric models) compared to the previous year included the challenging economic conditions, an intensely competitive market, and limited availability of parts. In addition, the new product portfolio is only gradually having an impact on global sales volumes.

In 2024, Porsche AG comprehensively renewed its product range, with a generation change for four out of the six model lines: the Panamera, Taycan, 911 and Macan. Porsche has grown in four out of five world regions and achieved historic records. The share of electrified sports cars increased from 22 to 27 per cent. Almost half of them were purely electric vehicles.

Despite strong headwinds, Volkswagen delivered around 4.8 million vehicles to customers worldwide last year (1.4 per cent fewer than in the previous year). Volkswagen was again the clear market leader in Germany with a market share of 19.1 per cent, according to the German Federal Motor Transport Authority (KBA).

PowerCo SE, Volkswagen Group’s battery company, and Patriot Battery Metals Inc. (TSX: PMET | ASX: PMT | OTCQX: PMETF | FSE: R9GA) today announced they have entered into a strategic partnership. This is the first investment for PowerCo and Volkswagen in the lithium supply chain, underlining PowerCo’s ambition to execute on its vertical integration strategy – from mine to battery. The partnership ensures the long-term supply of lithium raw materials through a binding offtake commitment. Additionally, the companies will jointly explore further strategic opportunities such as a downstream lithium supply chain with a focus on cost competitiveness, high ESG standards and long-term security.

The Volkswagen Group is consistently advancing its “In China, for China” strategy. The company is strengthening its successful 40-year partnership with SAIC Motor for the long term. In Shanghai, both companies signed an extension of their joint venture agreement until the year 2040. By extending the agreement, the partners are creating early planning security beyond 2030 in a very dynamic development phase of the Chinese automotive market. At the same time, Volkswagen and SAIC are accelerating the transformation of their joint venture company, SAIC VOLKSWAGEN, in the areas of product portfolio, production, and decarbonization. The shared goal of the partners is to achieve a leading market position for SAIC VOLKSWAGEN with the Volkswagen Passenger Cars and Audi brands in the era of intelligent, fully connected electric vehicles.

The Volkswagen Group appoints Kjell Gruner as CEO of Volkswagen Group of America effective December 12. Gruner succeeds Pablo Di Si, who has stepped down from his position last week on his own request. Until Kjell Gruner takes office, Gerrit Spengler, CHRO of Volkswagen Group of America, will perform the function of interim CEO.

Audi is further intensifying the collaboration with SAIC and SAIC Volkswagen in a Cooperation Agreement. Audi and SAIC have decided to jointly develop new models built on a China-specific platform named “Advanced Digitized Platform” for the next generations of premium intelligent, connected vehicles (ICV). Cooperation starts with three BEV models covering B and C segments to quickly enter into the dynamic and fast-growing electric vehicle market in China.

The Beijing Auto Show took place from April 25 to May 5. At its Media Night on April 24, the Volkswagen Group presented product highlights and progress in its "in China for China" strategy.

Volkswagen is systematically forging ahead with its “in China, for China” strategy. The goal is even closer alignment with the specific requirements of customers in the world’s largest auto market and to provide them with a convincing product offering in all relevant segments. The ID. CODE design show car that celebrates its world premiere this week at the Auto China 24 trade fair in Beijing (from April 25 to May 4, 2024) bears witness to this systematic orientation to the wishes of Chinese customers. The concept car’s aesthetics are completely new and give a preview of a large electric SUV. The ID. CODE is designed for Level 4 fully autonomous driving. The new progressive ID.UX sub-brand also plays a key role in terms of Volkswagen’s profile in the Chinese market. With all-electric, lifestyle-oriented models, this sub-brand is designed to appeal to younger customers in particular.

Volkswagen launches the next phase of its transformation in China. At its China Capital Markets Day in Beijing, Volkswagen Group presented its strategy update for the Chinese market. The focus is on its target to strengthen tech capabilities and reduce costs in the strongly growing market. The Group plans to achieve cost parity with local competition in the compact car segment by 2026 and gain further momentum through a re-aligned strategy and an efficiency program that was launched already. In addition, the company underlined its commitment to its “in China, for China” strategy: It presented measures to cater even better to the needs of Chinese customers, accelerate model developments and time-to-market as well as significantly reduce costs. In addition, the aim is to better harness the innovative power of the market and increase local value creation through more in-house development capabilities and strong local partnerships. As a result, the Group aims to strengthen its position as the #1 international OEM in the Chinese market and has set ambitious targets until 2030: Approximately 4 million vehicles sold and growth in proportionate operating result to around EUR 3.0 billion, including the fully consolidated Anhui joint venture.

The CMD took place on April 24, 2024 at the Phoenix Center, Beijing.

At Auto China 2024, the Volkswagen Group and its brands demonstrate their innovative strength with an impressive line-up of China specific products. Six world premieres and five China premieres are the highlights among the 44 car and motorbike models on display. Through a strong ‘In China, for China’ approach, the Group set the course for accelerated technical localization, as well as faster production and development, to ensure it continues to offer tailor made products in China now and in the future. The transformation is well underway, and the market-wide product offensive with a focus on smart, connected vehicles tailored to Chinese consumers is accelerating to ‘China speed’.