VW Reports 2021 Sales Was A 10-Year Low For It, While Rival BMW Races Ahead

Volkswagen Group has said that it had its lowest sales in ten years in 2021, as it managed to make about 8.9 million deliveries, and added that it expects supply chain conditions will continue to be turbulent even during the first half of this year.

Luxury manufacturer BMW, on the other hand, recorded record deliveries of 2.21 million vehicles, thanks in part to its ability to adjust to supply chain difficulties.

Sales of Volkswagen vehicles fell 8.1 percent to just under 4.9 million units, with the greatest loss of 14.8 per cent in China, despite a quadrupling of battery-electric car sales in the country.

“Under unusually challenging circumstances, Volkswagen reached a satisfying sales result,” sales and marketing chief Klaus Zellmer said. “However, the huge effects of chips on production were not able to be fully compensated.”

Mercedes-Benz sales fell by 5 per cent in 2021, falling behind BMW for the first time in five years as the luxury manufacturer that had the most number of vehicles sold globally, according to BMW competitor Daimler.

Premium carmakers performed the worst in Europe, with BMW and Mini brands posting only 3.9 per cent increase and Mercedes-Benz seeing an 11.2 per cent loss in sales in 2021.

For all three carmakers, the North American market was a key market. In the United States, Mercedes-Benz grew by 0.4 per cent, while BMW grew by 19.5 per cent. In that market, Volkswagen saw a 13 per cent increase in its sales last year.

Hybrid and fully-electric vehicle sales increased across the industry, especially in Europe, where they accounted for between a fifth and a quarter of total deliveries – but they remained a modest percentage of total global sales.

For example, at the Volkswagen Group, battery-electric vehicles accounted for 5.1 per cent of deliveries, which is up from last year but still falls short of the company’s goal of 50 per cent by 2030.

(Adapted from marketscreener.com)

Categories: Economy & Finance, Entrepreneurship, Strategy, Sustainability, Uncategorized

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