Volkswagen ( OTCPK:VWAGY ) notched a double-digit gain in deliveries from the prior year, led by electric vehicle sales in China, according to an update offered by the company on Friday.
The German automaker said third quarter deliveries rose 10.6% from the prior year quarter, a jump underwritten by strong growth in EV deliveries. The automaker said all-electric deliveries rose 25% in the first 9 months of 2022 as compared to 2021.
“Despite ongoing supply constraints, 366,400 BEVs have been handed over to customers until the end of September, up from 293,000 in the prior-year period,” the company said on Friday. “The BEV share of total deliveries climbed to 6% in that timeframe, up from 4.2% in the same period of 2021. China remains the biggest driver with 112,700 BEVs – more than twice as many as at the end of Q3 2021.”
Nonetheless, overall deliveries remain down 12.9% from the prior year with a particular lag in the Central and Eastern European region. The Volkswagen ID.4/ID.5 remains the best selling EV model, selling 122,600 units in the first 9 months of the year.
Shares of the automaker listed in Germany rose 0.76% in the afternoon session.
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Volkswagen deliveries drive higher on China EV growth