WVW Worx

Main Menu

  • Volkswagen News
  • Volkswagen Emissions
  • Volkswagen credit
  • Volkswagen Electric
  • Banking

WVW Worx

Header Banner

WVW Worx

  • Volkswagen News
  • Volkswagen Emissions
  • Volkswagen credit
  • Volkswagen Electric
  • Banking
Volkswagen Electric
Home›Volkswagen Electric›Volkswagen has already sold out electric cars in key markets this year

Volkswagen has already sold out electric cars in key markets this year

By Raymond J. Nowicki
May 9, 2022
0
0

“We’re not sold out because we can’t build cars … we’re really sold out on electric cars because demand is higher than expected,” CEO Herbert Diess told the Financial Times at its automotive conference on Monday.

Last week, the company, which owns multiple brands including Porsche and Audi, announced that was the case a Backlog of 300,000 EV orders in Western Europe alone.

Customers placing orders now in some markets can expect to receive their cars next year, a company spokesman confirmed to CNN Business.

The Volkswagen Group sold more than 99,000 electric vehicles worldwide in the first quarter, 65% more than in the same period last year. The most popular cars included the ID.3 and ID.4 models and the Audi e-tron.

Volkswagen is still trailing behind Teslawhich delivered more than three times as many electric vehicles in the same period.

Supply bottlenecks dissolve

There could be an opportunity to regain some lost ground later this year if the chip supply improves. Supply chain disruptions which harmed the auto industry in the past year began to relax, and the Volkswagen Group has a “very good supply of semiconductors” from the third quarter, said Diess.
Volvo (VOLAF)Also , a competitor of the Volkswagen Group, believes that the worst of the chip shortage is behind it. CEO Jim Rowan told the FT Monday that he expects his company to be “really solid in terms of chip supply” by Q2.
That war in Ukraine has exacerbated supply problems for the automotive sector, leading to shortages of essential parts for all vehicles.

But Diess said the company, which has several parts suppliers in Ukraine, still managed to secure about 90% of its supply volume from those plants.

And despite strict corona lockdowns, Demand for electric vehicles in China is proving resilient. Diess said sales of Volkswagen Group electric vehicles in the world’s largest auto market quadrupled in the first quarter.
BYD, a Chinese electric vehicle maker, reported a 313% jump in sales about its electric vehicles and plug-in hybrids in April compared to last year. The Warren Buffett-backed company is better protected than others from supply chain disruptions because it makes its own batteries and car chips. Competitors Li Auto and Nio both reported a drop in shipments in April.

“I am optimistic that even in these really difficult circumstances with Covid in China, the war in Ukraine and still some semiconductor restrictions, 2022 could be a good year for us and the rest of the industry,” said Diess.

— Laura He contributed to the coverage.

Related posts:

  1. One in Four Consumers Consider Buying an Electric Car, Study Finds
  2. How will electric cars reshape the automotive industry?
  3. Volkswagen applies the agency sales model to the Group’s brands
  4. BYD to start delivering electric vehicles to Norway by Q3 TechNode

Recent Posts

  • Volkswagen creates enthusiasm – The Irish News
  • A look back at the 1981 Volkswagen Passat
  • Volkswagen has already sold out electric cars in key markets this year
  • Volkswagen Group CEO: Transition to electric vehicles cannot yet be accelerated
  • 9 Stunningly Beautiful Cars Collectors Don’t Want

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • March 2021

Categories

  • Banking
  • Volkswagen credit
  • Volkswagen Electric
  • Volkswagen Emissions
  • Volkswagen News
  • Terms and Conditions
  • Privacy Policy