VW Group's Q1 profit falls 20% as EV disruption in China takes effect

VW Group's Q1 profit falls 20% as EV disruption in China takes effect
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#volkswagen #china #profit #evnews #evsales
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[@seniordockman2946]

Has not Volkswagen improved the EV software over the last two years? I have not driven a Volkswagen EV, but am looking for an alternative to Tesla.

[@charliemiller3884]

30 new EVs this year? Did VW hire Mary Barra?

[@mikecoffeen7991]

The bridge did not fall over, it was knocked down by a huge container ship that lost power.

[@EnriqueThiele]

VW cancelled the Herbert Diss ev manufacturing pland due to atart construction on April 2023. Now the plan on two ne ev plamanufacturing plants, bu in my opinium it is too late already. Many countries will reach 50% ev in the next 3 years, and vw plant take 5 years to start..

[@anonimato1987]

With this real estate market in Europe, I won't pay more than 20k for a car. Housing is priority #1. They need to cut costs with those annoying assistance systems if they wanna get some sales

[@amfe52]

Wonder how Toyota is doing? Oh yeah... Record sales! 😂

[@planetsmoothcoaster]

The EV industry sounds like the streaming industry.

[@carlishiggins]

reson why ev prices keep going down faster because no poor person is buying it in used ev market, poor fear the huge battery fail costs, charging and range anxiety and inconvenient and winter huge range lost and freezing cold, most tesla ev battery has failed, replaced 3 times when reaching 100k miles

[@free-qe6wx]

Endless stream of FUD against legacy, but when Tesla's profit decrease is even worse it is somehow bullish.

[@user-br8ny2it9t]

Sorry wrong. VW group expect this year a revenue and sales grow. They told month before that Q1 will be not so good, cause a lot of new models where introduced especially at the premium brands with Audi and Porsche. Some problems with suppliers (new motor for BEV and some problems regarding the ICE V6 and V8 models) came addional. VW sales where 3 Percent higher than last year, but only for the cheaper brands and thats why the margin was not do good. The will change in the next quarters, when the ramp up of the new models starts.

[@neildolan7177]

Looking forward to your announcements about the 90 auto makers China & how their sales & profits are doing.

[@arnemagisoo6786]

I.D 3 is more like 42000-50000 euro in finland.

[@kunchotpakdeetrakul2605]

What about BYD, GEELY, and those Chinese brands?

[@chillfluencer]

00:14

[@grndzro777]

The problem I have with VW is their naming....And why the hell is a Golf 10K more than a Jetta?

[@NotAnonymousNo80014]

What profit, VW has been losing money since I can remember.

[@EnriqueThiele]

VW also have agreement with 2 or 3 China ev manufacturers to make cars for VW, howver this can be sold outside China, but in China VW labeled cars can not compete on price twith those 3 manufacturers, it is just stenghtening them.

[@googlegoogler6694]

Perhaps a better strategy for VW group would have been to develop EV’s instead of emission cheat devices and short term profit.

[@doolittlegeorge]

Insane complexity and demands on the pure play BEV meets a price War is an ugly thing. 😢😢😢😢😢😢😢 be better off if the Industry found a way to cooperate to the maximum extent and create standards or best practices for example with charging such that the maximum amount of charging infrastructure can be rolled out.

[@DC.409]

That’s why Volkswagen has aligned to a Chinese company to improve their EVs. Interestingly on the Tesla restructuring strategy it is being reported Tesla has dropped gigacasting. It was expected to make producing car bodies faster, simpler, and above all, cheaper. But that doesn't seem to be panning out perfectly, as Tesla is reportedly abandoning its plans to cast cars' entire underbodies. Elon Musk has always said that car manufacturing was a zero sum game, clearly nothing is protected under his restructuring strategy to focus on AI autonomous vehicles.