Volkswagen Group released its financial numbers for Q1 2024 today, following similar trends from other EU-based automakers. The numbers detail a slowing of sales and a drop in profits. Despite a 20% decrease, the Group remains optimistic that it will end the year at its financial targets.
Today’s Q1 2024 report from Volkswagen Group comes with little surprise, as the German automaker already gave the public an idea of its sales woes earlier this month when it shared its delivery numbers.
Deliveries for Q1 were up 3% overall year-over-year, but BEV sales fell. EV sales were up in China (+91% YOY) but stumbled in Volkswagen’s native Europe (-24%) and the US (-16%). It’s top-selling models in the first quarter were the ID.4/ID.5 (34,600 units), ID.3 (26,100), Audi Q4 e-tron (22,800), Skoda Enyaq (14,000), Audi Q8 e-tron (9,600), and VW ID.Buzz (7,000).
At the same time, Volkswagen Group shared that deliveries of Porsche’s lone EV, the Taycan, also fell by 54% in Q1 2024. Still, a bolstered 2025 model year Taycan is on the way alongside several new BEV models from Volkswagen that the auto conglomerate hopes will help it bounce back in 2024.
Today, we got a better idea of VW Group’s Q1 numbers beyond mere deliveries, which includes a 20% drop in profits.
Source: Volkswagen Group
Volkswagen’s sales and revenues dropped in Q1 2024
Per a detailed Q1 2024 report released by Volkswagen Group today, it is off to a slower start this year, although the German automaker states it anticipated this dip and relayed confidence going forward. Per VW Group CFO and COO Arno Antlitz:
As expected, our first quarter results show a slow start to the year. We remain confident of achieving our financial targets for 2024. A strong March, the solid order bank and the improving order intake in the past months are encouraging and should already have a positive impact in the second quarter. We expect additional momentum over the course of the year from the launch of more than 30 new models across all brands. At the same time the effects our efficiency programs will gradually unfold as the year progresses. In this context, it will be particularly important to vigorously counteract the increase in fixed costs and exercise investment discipline.
Notable figures include 75.5 billion euros in sales revenue, down from 76.2 billion in Q1 2023. Furthermore, VW Group reports EUR 4.6 billion in operating results, down 20% compared to a year ago with an operating margin of 6.1%. Volkswagen cites “lower sales volumes, an unfavorable country, brand and model mix as well as an increase in fixed costs” as the reasoning behind its negative Q1 2024 results.
In terms of overall sales, Asia-Pacific saw 2% growth while South America recorded record numbers, up 19% year over year. That said, sales in North America were down 10%, followed by the rest of the world at 5%, for a grand total of 2.1 million vehicles sold globally in Q1.
Despite many minuses on its Q1 2024 spreadsheet, Volkswagen Group anticipates a sales revenue increase of up to 5% and an operating margin between 7 and 7.5%, clearing the way for a clean 2024 outlook it remains confident in. Per the release:
In the Automotive Division, the Group assumes an investment ratio of between 13.5 percent and 14.5 percent in 2024. The automotive net cash flow for 2024 is expected to be between EUR 4.5 and EUR 6.5 billion. This will include in particular investments for the future and cash outflows from mergers and acquisitions for the battery business, which are a vital pillar of the Volkswagen Group’s transformation. Net liquidity in the Automotive Division is expected to be between EUR 39 billion and EUR 41 billion in 2024. It remains the Group’s goal to continue its solid financing and liquidity policy.
Challenges will arise in particular from the economic situation, the increasing intensity of competition, volatile commodity, energy and foreign exchange markets, and more stringent emissions-related requirements.
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I recently got my hands on a Level 2 home EV charger called the Emporia Pro and have shared my thoughts below alongside a full video review. While I hit a few speed bumps in part of the installation, this Level 2 charger can essentially be a plug-and-play charger that helped me boost my home charge rates to the max.
The Emporia Pro Level 2 EV Charger is a winner
The Emporia Pro Charger is available in black or white, and you can choose between a hardwired or NEMA 14-50 Plug version. It is available on the Emporia website and was recently added to Amazon at an MSRP of$599.
Features at a glance:
Hardwired or NEMA 14-50 Plug configuration available
J1772 Charger Plug (Compatible with most non-Tesla EVs)
Charging speeds up to 48 Amps
Includes Charger wall mount with cable rack, and 25-foot charger cable
Emporia Pro Charger comes with Vue 3 Home Energy Monitoring System included
PowerSmart technology works with your existing electrical panel to automatically balance load and maximize charge rates
Smarter Charging Control in the Emporia App
Automate charging schedules, avoid peak rates, and track energy usage in real time
Solar charging integration capabilities
UL Listed, NEMA Rated, ENERGY STAR Certified
3-year warranty
Electrek’s take
Over the past few months, I’ve been testing the Emporia Pro Level 2 EV charger after successfully installing it in my garage to boost my charge rates.
This system comes in black or white and can be hardwired or simply plugged in using the NEMA 14-50 option. I chose the latter since I already had a 240V plug installed in my garage.
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The unboxing was relatively simple and included the haul pictured above. The package included the Emporia Pro charger, a 25-foot cable, a J1772 plug, and a holster to hold the plug when it’s not on your EV.
The charger itself came with its attached wall mount bracket (see image below), which I unscrewed to pre-fit on my garage wall. I had some molding in the way, so I had to do a custom job to fill the gap.
After I measured where I wanted the Level 2 charger hung, I cut out a piece of plywood to support the bracket. After screwing the plywood directly into the wall, the Emporia charger’s bracket was able to sit flush, so I screwed it in with the included hardware, then hung the charger up before securing it with the bracket screws.
Since I had the NEMA plug, my version simply plugged in and was ready to start charging as soon as it was hung up and screwed securely.
To complete the charger setup, I also installed the included cable holster, which enables the excess cable to be strung around the plug itself. That portion merely took a few wall anchors and some screws. Easy.
Here’s the fully installed Emporia Pro charger:
Next, it was time to plug it in and test it out on my Rivian.
Before getting the Emporia Pro, I used the modular charger cable that came with my R1S, which only got me 1.3 kW on a 120V plug and about 7.2 kW on a 240V plug. From the first charge, the Emporia Pro was significantly faster, averaging a charge of 9.4 kW using the same electrical configuration.
Another feature of the Emporia Pro charger is that it comes with the company’s Vue Home Energy Monitor System, which can track your energy consumption in real time and help reduce it. It can also be set to use certain devices when most affordable, during off-peak hours.
This part of the installation was more daunting for me as I’m not as confident in electrical work. In addition to several electrical components and wires (pictured below), the Vue’s installation instructions were extremely confusing. Due to its versatility and ability to implemented within a number of home wiring configuraitons, including those with solar panels, I wasn’t sure which setup was right for me, and it put a delay on my installation.
I needed help.
Luckily, I got in touch with an installation expert at Emporia (shout out to Ben!) who had me send a picture of my electrical panel and told me exactly what configuration to use and where to install each colored wire. Things were much easier from there, and I had the VUE Home Energy Monitor wired and connected to my home WiFi in no time.
Once all the wiring was connected, I could install and open the Emporia App, find my Vue device, and connect to it. As you’ll see in my video below, I could then track my home energy usage in real time. That included how much power my Rivian pulled while on the Emporia charger.
Overall, the Emporia Pro EV charger is a plug-and-play setup that can easily boost the charging speeds of your existing power panel. Charger installation is a breeze if you have an outlet for the NEMA plug, but the home monitor system is much more complex, depending on your wiring configuration.
Luckily, the Emporia team is easy to get in contact with and very helpful in assisting with any installation questions. Even without the VUE Monitoring system, I’d recommend the Emporia Pro to maximize your home charger speeds. Who doesn’t love faster charging?
Check out my complete installation journey in my video review below.
Heybike’s Father’s Day Sale returns the class 3 Brawn fat tire off-road e-bike to $1,299 low
Heybike has launched its Father’s Day Sale running through June 16 with up to $500 discounts on e-bikes and the usual free bundled gear packages. One notable price cut this time around is the Brawn Fat Tire Off-Road e-bike that has fallen to $1,299 shipped. Normally priced at full for $1,799, this is a sizeable $500 markdown that is bringing things back to the lowest price we have tracked, with discounts over the last year mainly having kept things down between $1,399 and $1,499. Along with your purchase, you’ll also be scoring a free large cargo basket that can attach to the rear rack.
Heybike’s Brawn e-bike is a class 3 off-roader that comes with a 750W (1,400W peak) brushless-geared hub motor paired with a removable 48V battery, providing support through its pedal assistance up to 28 MPH top speeds for up to 65 miles on a single 4-hour charge. Rather than have multiple PAS levels, you’ll have four riding modes to choose from: pure electric, pedal assistance, a manual mode, and a walk mode.
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Whether you’re headed down a paved street or adventuring off-road, the 26 by 4-inch puncture-protected fat tires smooth out the ride while ensuring it won’t end prematurely – plus, there are hydraulic disc brakes for more immediate stopping power over mechanical counterparts. It also features an automatic headlight that turns on in darker conditions as well as a taillight for added safety, smart functionality through the companion app that can be used to track your journey, and an LCD display that gives you real-time performance statuses and allows for setting adjustments.
Today only: Bluetti returns Handsfree 1 and 2 backpack power stations to lowest prices from $199
Bluetti has its Father’s Day Sale running through June 22, which is broken into three “events” that are changing out offers at up to 55% off (tracked by counters on the landing page), complete with 48-hour flash sales that are peppered into the schedule. Among the current flash offers, we spotted the Bluetti Handsfree 1 and Handsfree 2 Backpack Power Stations down at $199 shipped and $299 shipped. Normally fetching $429 and $599 at full price, these models have mostly been sitting $100 higher and more outside of these flash savings during direct events, but you’re getting another opportunity at the best pricing for them while the savings last. These are 54% and 50% markdowns, giving you $230 and $300 in savings at returning low prices, beating out Amazon’s pricing where the Handsfree 1 is at $299 and the Handsfree 2 is at $399.
If you’re one always to be found out in nature, Bluetti’s Handsfree 1 and Handsfree 2 power stations are quite the convenient pick, with their ultra-slim designs that fit inside the accompanying 42L and 60L backpacks. What’s more, even with the power stations in place, there’s still plenty of room for other essential camping, hiking, and outdoor gear. The Handsfree 1 provides you with a 268.8Wh LiFePO4 battery capacity (300W output, surges to 450W) while the Handsfree 2 boasts a larger 512Wh LiFePO4 capacity (700W output, surges to 1,200W). They both come sporting the same output port options, with one AC port, two USB-A ports, and two USB-C ports. The bags are splash-resistant and offer easy access points to the power stations’ ports through the side flap, along with other layers of compartments, outside buckles, and more for additional equipment.
Last-minute plans aren’t as stressful as they recharge quickly, with both models able to reach an 80% battery in 45 minutes via a standard wall outlet, with a full battery taking longer at different rates: 1.5 hours for the Handsfree 1 and 1.3 hours for the Handsfree 2. There’s also the solar charging capabilities, with the Handsfree 1 sporting a 200W max input and the Handsfree 2 sitting higher with a max 350W input.
Bluetti’s other current Father’s Day Sale flash offers:
Get easier mobility and more customization with this EGO 56V 21-inch select cut self-propelled mower kit at $549
Amazon is offering the EGO Power+ 56V 21-inch Select Cut Self-Propelled Lawn Mower with two 4.0Ah batteries for $549 shipped. Normally fetching $699 at full price, this particular bundle doesn’t often see discounts, with only one previous price cut on the books for 2025, which only brought costs down to $599. You’re looking at a 21% markdown here while the deal lasts, saving you $150 at the second-lowest price we have tracked – $19 above the low that last appeared during July 2024.
Perfect for small to medium yards, this cordless electric mower from EGO comes powered by the two included 4.0Ah batteries for up to 65 minutes of runtime on a single charge, with the 550W charger getting each back to full in about 30 minutes. The self-propulsion system here is complemented by a Touch Drive that activates things with a touch of your palm, while the Select Cut system allows for more customizable options in terms of its blades for different jobs. There are seven cutting height levels (from 1.5 to 4 inches), as well as three-in-one functionality for bagging, side discharging, or mulching. And of course, there’s no more pull strings to stress over here, as the whole thing starts up with a button press.
We’ve got three major EGO Power+ bundles that are back at their lowest prices right now, which come with added batteries for maximum power and longer runtimes:
Cover tree felling and storm cleanup with Greenworks’ 80V 18-inch cordless electric chainsaw at $320 low
Amazon is offering the Greenworks 80V 18-inch Cordless Electric Chainsaw with 4.0Ah battery for $319.99 shipped. Coming down from $370, with a higher $400 MSRP, we’ve only seen two previous discounts on this model in 2025, both of which brought costs back to this same low rate. It’s coming back around for a third time now, cutting $80 off the tag and returning it to the lowest price we have tracked, which beats out Greenworks’ direct full pricing at the moment.
With the country stepping into hurricane season, we can expect an uptick in storm surges, especially if you live in the southern states, and having a reliable means to fell or chop up damaged trees is always key. With this 80V chainsaw from Greenworks, you’ll get the support you need through cleanups while also having a solid means for everyday yard projects too. The brushless motor brings the equivalent of a 50CC gas engine to your arsenal, with an 18-inch bar and chain that stays lubricated thanks to the automatic oiler. There’s also side-access tensioning to easily maintain its efficiency without needing to open it up, as well as a mechanical chain brake that adds extra protection and reduces injury risks.
Trade your single-use wheelbarrow for 8-in-1 functionality with Worx’s Aerocart at $169
Amazon is offering the Worx Aerocart 8-in-1 Yard Cart for $169 shipped. While it occasionally carries a $230 full price tag, we’re seeing it come down here from $200 today after spending most of 2025 keeping at $173 before it rose in price back in April. You’re looking at a 27% markdown from its MSRP while the savings last, giving you the second-lowest price of 2025 – just $9 above the short-lived drop to $160 we saw in March.
With the Worx Aerocart among your arsenal, you’ll find added versatility to more easily manage various jobs around your yard and/or garden thanks to its 8-in-1 functionality and the 300-pound payload. The eight configurations you can set it to include a lightweight wheelbarrow to a yard cart, or even a bag holder, dolly – which extends further out too for larger transport jobs – as well as a cylinder carrier, rock/plant mover, or a trailer tote. Whether you’re doing large-scale changes to your landscape or just want more well-rounded support, you’ll certainly be getting far more than your average wheelbarrow here.
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
Hyundai saw the storm coming and has been preparing for an industry upheaval. With a stockpile of rare EV minerals, Hyundai claims it has “far more wiggle room” as the industry braces for supply chain disruptions stemming from China’s new export restrictions.
Hyundai has been stockpiling rare EV minerals
After several automakers, including Ford and BMW, have already been impacted by China’s export restrictions, Hyundai says it’s in a better position to weather the storm.
Hyundai Motor Group, which includes Kia and Genesis, has reportedly been stockpiling rare earth minerals needed to build electric and hybrid vehicles.
During a private investor call, a Hyundai official said the company had been stockpiling rare earth minerals from China while export restrictions were still slightly relaxed.
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According to a source who was on the call (via Reuters), Hyundai stated that it has “far more wiggle room” than most rivals regarding the supply chain disruptions. The company informed investors during the call that these efforts helped improve its supply chain.
Hyundai said it expects to be able to produce hybrid and electric vehicles “for at least about one year,” the source claimed, who wished to remain anonymous because the call was private.
Hyundai IONIQ 9 (Source: Hyundai)
Although no other details were offered, Hyundai said in a statement to Reuters, “We continuously evaluate market conditions to ensure operational stability and maintain a diversified global supply chain.” The Korean automaker added that “As part of our standard business practices, we maintain appropriate inventory levels to support uninterrupted production.”
Kia EV3 Air in Frost Blue (Source: Kia UK)
Since China dominates the market, accounting for about 90% of the world’s rare earth minerals, Hyundai was once again ahead of the pack.
In the US, its biggest market, Hyundai is facing higher import costs thanks to Trump’s auto tariffs. With production ramping up at its new EV plant in Georgia and 18 suppliers joining it, Hyundai is one step ahead of the competition.
Electrek’s Take
Hyundai Motor and Kia announced plans in 2023 to become one of the top three EV manufacturers by 2030, through a nearly $18 billion (KRW 24 trillion) investment aimed at scaling up production and exports.
To do so, the Korean auto giant will need to secure a stable supply of minerals, which it has apparently already been stockpiling.
Hyundai is diversifying its supply chain while expanding local production in its biggest markets. With the new EVs rolling out across nearly every segment, including entry-level (Kia EV3, Hyundai Inster), sedans (Kia EV4), compact/midsize (IONIQ 5, Kia EV5), three-row (Hyundai IONIQ 9, Kia EV9), and luxury (Genesis EVs), Hyundai is laying the groundwork for more growth to come.
Can Hyundai, including its Kia and Genesis brands, become a top-three EV maker by 2030? Let us know your thoughts in the comments.
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