WOLFSBURG (dpa-AFX) - Volkswagen Group (VKW.L, VLKAF.PK, VOW.BE) Friday reported that its worldwide deliveries plunged 37.9 percent in March and 23 percent in the first quarter due to weak demand amid coronavirus crisis.
Going ahead, the company noted that from next week on, production would be gradually ramped up with new protective measures for employees. In China, almost all factories are back online.
In March, the company delivered 623,000 units, down from 998,900 units last year. Deliveries in Western Europe fell 44.6 percent, and the decline was 23.1 percent in Central and Eastern Europe and 42 percent in North America. Deliveries fell 23.8 percent in South America, 35.5 percent in China and 20.8 percent in rest of Asia- Pacific.
In the first quarter, deliveries totaled 2 million units, down from 2.61 million units a year ago.
Volkswagen, like many other manufacturers, had to stop operating in factories and car dealerships due to contagion risks and lack of replenishment due to interrupted supply chains. There was also a sharp drop in demand.
Separately, the company said it manufactured a total of 910,926 units of its Tiguan sport utility vehicle in 2019.
In spring 2020, the Volkswagen Tiguan broke the production barrier of six million units, becoming the best-selling car in the Volkswagen brand and Group.
Tiguan was launched in 2007, and Volkswagen manufactured more than 150,000 units of the Tiguan in 2008.
The Tiguan is currently manufactured at four Volkswagen plants spread across four time zones. In the last year, Tiguan rolled off the production line every 35 seconds in one of the company's Tiguan factories.
In Germany, Volkswagen shares were trading at 122.62 euros, up 4.68 percent.
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