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business/news//CNBC TV18
Volkswagen reported a 4% drop in global deliveries to 2.05 million in Q1, hit by weak China demand and US tariffs.
Volkswagen's global deliveries fell 4% in Q1 2024 to 2.05 million units.
KEY POINTS
Volkswagen's shipments dropped 15% in China and about 20% in the US in Q1.
Skoda is preparing to exit the Chinese market as buyers shift to local EVs.
Volkswagen is partnering with Xpeng and SAIC to develop China-specific electric vehicles.