[Staff, 2022-12-26 04:33:51,
Like its European competitors, Volkswagen’s profits could halve in 2023. Its challenge of opaque governance and the existential threat from a China blowup remain, but its number one challenge will be electric next year.
After being the lead dog in the mass-market electric car race, VW and its brands have fallen behind. According to French automotive consultants Inovev, VW group sales of battery electric vehicles (BEV) will reach 257,000 in 2022, around 21,000 less than last year.
“While Audi can be satisfied with its BEV sales, Skoda is stable and the (Seat) Cupra Born has made a good start, it is the VW brand itself that will probably not be able to exceed the BEV sales of the previous year. The brand itself is now adjusting its strategy for electric vehicles,” Inovev said.
“Volkswagen therefore now wants to accelerate its switch to electric vehicles,” Inovev said.
This poor performance centers on the first all-electric car, the ID.3, which has now been given a face-lift, effective next spring. Earlier this month, VW said the overall market for BEVs in Europe had “gone off track” because of booming energy prices and the semiconductor shortage.
This comes as no surprise to Matt Schmidt, of Berlin-based Schmidt Automotive Research.
BEV sales in Western Europe slowed in 2022 and will stagnate in 2023 at around 1.5 million and a market share of 14.5%,…
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