Volkswagen sees subdued Q3 growth as China, US deliveries fall

(Sharecast News) - Volkswagen reported a marginal increase in vehicle deliveries in the third quarter as declines in its second and third largest markets, China and North America, limited growth. The German auto giant, which owns brands including Audi, Bentley, Skoda and Lamborghini, said on Friday that global deliveries to customers totalled 2.198m over the July to September period, up 1.0% over last year.

It's largest market, Western Europe, saw 8.0% growth to 802,800 units, while Central and Eastern Europe deliveries rose 13.7% to 133,100. Growth was helped by a 60% surge in battery electric vehicle sales across the continent to 174,700.

However, deliveries in China slumped 7.2% to 660,300 as ongoing price competition with domestic rivals continues to affect European manufacturers.

Meanwhile, in North America, deliveries dropped 9.8% to 246,900, with recent tariff uncertainty likely weighing on demand.

Elsewhere, VW recorded decent growth in South America (+9.7%), Asia-Pacific excluding China (+9.2%) and the Middle East and Africa (+3.0%).

VW shares were down 0.2% at €90.86 by 1556 in Frankfurt.