Volkswagen reports a 36.6% decline in Chinese sales dragged global deliveries to 2.1 million vehicles in the quarter.
Volkswagen’s global vehicle deliveries fell 8.6% year-over-year to 2.1 million units in the second quarter. The decline was driven by a 36.6% drop in Chinese sales, which outweighed gains in North America and Europe.
The automaker saw increased demand in North America, Western, Central, and Eastern Europe, as well as South America, but these regions only partially offset the sharp decline in China. The quarter’s performance reflects ongoing challenges in Volkswagen’s largest market.
No immediate market reaction was disclosed in the release.