Volkswagen Passenger Cars, a German automobile manufacturer headquartered in the Wolfsburg area of Lower Saxony, has achieved a significant milestone in the electric vehicle (EV) market by selling nearly 400,000 EVs worldwide in the recently passed 2023, marking a strong growth of 21 per cent year-over-year. The above mentioned accomplishment contributed to the German brand's overall success, with its global car sales reaching nearly 1.4 million units in the fourth quarter (Q4) of 2023. The figure of global sales represents an impressive 13 per cent year-over-year growth. The figures for last year further revealed that the brand achieved a total volume of 4.87 million units, demonstrating a noteworthy 6.7 per cent year-over-year (YoY) growth.

The automaker only maintained its position in the automotive market but also significantly bolstered its presence in the EV segment by selling nearly 400,000 EVs worldwide during the twelve months of last year. To be more specific, the company’s global BEV sales for the entire year of 2023 reached approx. 394,000 units, representing 8.1 per cent of the total sales volume. This growth is particularly significant when compared to the figures recorded in 2022 when 325,100 Volkswagen-branded BEVs were sold worldwide, constituting 7.1 per cent of the total volume.

However, the year-over-year growth rate for battery electric vehicles (BEVs) during this period was a more modest at 2.5 per cent. Out of the total sales volume, the share of BEVs slipped from 9.6 per cent to 8.7 per cent, signaling an important shift in consumer preferences.

In addition to the brand’s global achievements, specific market highlights offer profound insights into the company’s electric car success story. The VW ID.3 e-SUV, for instance, emerged as a star performer in the Chinese market, where its sales surpassed the figure of 75,000 units last year, reflecting an extraordinary year-over-year (YoY) growth of more than 200 per cent.

Likewise, the VW ID.4, emerged as consumers’ favored choice in Germany and the United States as it recorded robust sales figures of around 30,000 units (up 62.9 per cent) and 38,000 units (up 82.2 per cent), respectively. Thus, the brand enjoyed robust growth rate in the EV segment, even though it may appear comparatively lower than competitors like Tesla.

The remarkable achievement in terms of EV sales underscores Volkswagen’s commitment to electric mobility and sustainability, aligning with the broader industry shift toward cleaner & greener transportation.