Volkswagen Q1 Deliveries Increase 3% Amid EV Challenges: Details
Portfolio Pulse from Shivani Kumaresan
Volkswagen AG (OTC:VWAGY) reported a 3% increase in Q1 FY24 deliveries, totaling 2.10 million vehicles, driven by growth in China, South America, and North America. Despite a 4% increase in combustion engine vehicle deliveries, all-electric vehicle (BEV) deliveries fell by over 3%, with a significant drop in Europe but a surge in China. The BEV order bank grew by 154% year-over-year. Audi and Porsche deliveries also declined. VWAGY shares dropped by 0.44% to close at $15.98.
April 10, 2024 | 11:58 am
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Volkswagen AG (VWAGY) reported a 3% increase in Q1 FY24 deliveries, with a notable decline in BEV sales in Europe but a significant increase in BEV orders. Shares fell by 0.44%.
The mixed results in Volkswagen's Q1 report, with overall growth in deliveries but a decline in BEV sales in Europe, suggest a neutral short-term impact on VWAGY shares. The significant increase in BEV orders indicates strong future potential, but the immediate effect on stock price is likely muted, as reflected in the slight decrease in share price. The overall market response may be tempered by the growth in other segments and regions.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100