Volkswagen vehicle deliveries fell 1.4 percent year-on-year in 2024, the German carmaker said on Thursday, dragged down by fierce competition in China.

The Volkswagen brand's global deliveries fell 1.4% to 4.8 million vehicles in 2024, with battery-electric sales down around 2.5%, Europe's top carmaker said on Thursday.

An “elimination round” is likely to cull weaker players in a market dominated by EVs and plug-in hybrids. Among the early losers are foreign brands.

Chinese electric vehicle maker XPENG has once again reached a significant collaboration with German automobile giant Volkswagen. On Monday, both companies announced the signing of a Memorandum of Understanding (MoU) for strategic collaboration on a super-fast charging networks in China.

XPeng-Volkswagen partnership targets EV charging expansion, tackling infrastructure needs in China's booming market.

Volkswagen Group China and XPeng have signed a memorandum of understanding (MoU) to establish one of China's “largest super-fast” charging networks. This collaboration will leverage the technological expertise of both companies to provide an extensive charging infrastructure for electric vehicles (EVs) across China.

Volkswagen saw sales drop in China and Europe, but they were practically offset by significant gains in North and South America

Volkswagen (OTCPK:VLKAF) announced on Thursday that it delivered around 4.8 million vehicles globally in 2024, despite headwinds such as sluggish economic activity, political challenges, and intense competition in regions like China.

China's Xpeng Motors and Volkswagen have agreed to expand their partnership to cooperate on ultra-fast electric vehicle charging networks in China, the automakers said on Monday.

Volkswagen Group China said on Monday that it is to build an ultra-fast charging network with Xpeng, which is to feature over 20,000 terminals across 420 cities and regions in China. The move follows the two companies' partnership in developing electric vehicles in the Chinese market, the first of which is expected to hit the market in 2026.

BEIJING: China's car sales maintained their growth pace in 2024 as sales of electric vehicles and plug-in hybrids in the world's largest auto market hit a record high amid a brutal price war and with subsidised trade-ins for greener vehicles driving purchases.