Volkswagen handed over 394,000 EVs in 2023. Although EV deliveries were up 21% from last year, they still represented less than 9% of the VW brand’s total deliveries. The company said it expects the market to “remain challenging” this year.
The Volkswagen brand handed over 394K EVs in 2023
The Volkswagen brand announced fully electric vehicle sales grew by 21.1% in 2023, with around 394,000 EVs handed over.
Its largest markets included China, Germany, the US, the UK, Sweden, France, Norway, and Belgium. VW delivered around 30,000 ID.4 models in Germany, up 62.9%. In the US, around 38,000 ID.4 electric SUVs were handed over (+84.2% YOY).
In China, VW’s most important market (with ~40% of sales), over 75,000 ID.3 EVs were handed over, an over 200% increase.
Despite this, Volkswagen EVs represented only 8% of the total 4.87 million vehicles sold last year. The automaker cut EV production several times last year, citing slowing demand.
Volkswagen’s CFO Arno Antilitz said EV orders fell to 150,000 in Europe last October. That’s half of the 300,000 VW had last year at that time.
Hildegard Wortmann, who oversees VW’s marketing and sales, explained that the lower order intake was “due to the lower-than-expected overall market trend.” According to Wortmann, the growth in EV sales last year was thanks to a higher backlog.
VW faced several supply chain issues that extended delivery times and are now being worked out. The VW Group said it expected EV sales share to reach around 8% to 10% in 2023, down from 11%.
The automaker hopes its refreshed ID.4 and ID.5 can help jumpstart sales. VW’s updated EVs feature longer range and added tech.
Meanwhile, Volkswagen slashed EV prices in Europe earlier this week as it looks to compete with Tesla. Tesla’s Model Y looks to be the best-selling car (electric or gas) in 2023 as the EV leader continues expanding its network.
VW fell behind Tesla in US market share as EV adoption continues climbing. Tesla ended 2023 with 4.2% share of the US auto market.
Electrek’s Take
While Volkswagen looks to make up for lost time, other automakers are pulling ahead. Many automakers are already at double-digit (or 100%) EV sales.
Volkswagen EVs accounted for 8.3% of total deliveries in 2023. That’s up 1.4% from 2022 (6.9%). Meanwhile, other automakers, like Volvo, are already achieving over 15% EV share.
Volvo sold over 113,000 EVs last year, up 70% compared to 2022 (66,749). The Swedish automaker has several new models, including the EX30 (check out our review), starting at $35,000, that it expects to fuel EV sales in 2024.
Jim Rowan, Volvo’s CEO, said, “We are not seeing any order cancellations or any slowdown in order intake,” despite the reported “EV market slowdown.”
While Volvo aims to be an all-electric brand by 2030, VW targets 50% EV sales. Automakers like Volvo and Hyundai, who have committed to EVs, are reaping the rewards as others fall behind.
Volkswagen hopes new EVs like the ID.7 can help spark growth in 2024. However, Imelda Labbé, VW Board Member, said, “We expect the market environment to remain challenging in 2024.” The company believes it’s in the “right position” with an updated lineup.
Will VW spark EV growth in 2024? Or will it fall further behind leaders like Tesla as the industry shifts to electric? Let us know what you think in the comments.
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On today’s fact-checking episode of Quick Charge, we’ve got a showdown brewing between California Governor Gavin Newsom and Tesla CEO Elon Musk, an updated 650 hp Kia EV6 GT that’s ready to take on the world, and some sweet deals on battery-powered goodies.
We’ve also got new electric buses at UCLA that are powered by inductive current in the road itself, and a massive new solar project on a site more famous for coal than clean. All this and a little bit of fact-checking on some fresh musky nonsense – enjoy!
Today’s episode is sponsored by BLUETTI, a leading provider of portable power stations, solar generators, and energy storage systems. For a limited time, save up to 52% during BLUETTI’s exclusive Black Friday sale, now through November 28, and be sure to use promo code BLUETTI5OFF for 5% off all power stations site wide. Learn more at this link.
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The world’s first electric muscle car is finally here, and Dodge is already sweetening the deal for buyers. The Dodge Charger Daytona EV is launching with 0% APR, making it even cheaper to finance than the outgoing gas-powered model. Lease prices for the electric Charger start as low as $549 per month, but the Hellcat-like Scat Pack model may be an even better deal.
Dodge Charger EV launches with 0% APR offer
The first all-electric Dodge Charger has arrived, and surprisingly, it’s already becoming more affordable. In March, Dodge unveiled the Charger Daytona EV, kicking off “the next generation of Dodge muscle.”
According to Dodge brand CEO Tim Kuniskis, the electric Charger “delivers Hellcat Redeye levels of performance.” That’s for the Scat Pack model, which comes with a Direct Connection Stage 2 upgrade kit straight from the factory.
The upgrade delivers up to 670 hp and 627 lb-ft of torque for a 0 to 60 mph sprint in just 3.3 seconds. It can also cover a quarter mile in around 11.5 seconds.
In comparison, the 807 hp Dodge Charger SRT Redeye Jailbreak edition, powered by a Supercharged 6.2L HEMI SRT V8 engine, takes 3.6 seconds to get from 0 to 60 mph.
With a Stage 1 upgrade, the base R/T trim has up to 456 hp and 404 lb-ft of torque, good for a 0 to 60 mph time in 4.7 seconds.
Dodge opened orders for the 2024 Charger Daytona EV in September, starting at $59,995. The High-performance Scat Pack trim starts at $73,190.
According to a new dealer note viewed by online auto research firm CarsDirect, all 2024 Dodge Charger Daytona EV models are now eligible for 0% APR financing for up to 72 months.
2024 Dodge Charger Daytona EV trim
Horsepower
0 to 60 mph time
Starting price
Dodge Charger Daytona R/T
496 hp
4.7 seconds
$59,995
Dodge Charger Daytona Scat Pack
670 hp
3.3 seconds
$73,190
2024 Dodge Charger Daytona prices and specs (excluding a $1,995 destination fee)
The offer makes the electric Dodge charger even cheaper to finance than the outgoing 2023 Dodge Charger at 5.9% APR for the same 72 months. However, this is an individual offer and cannot be combined with other deals. Based on CarsDirect analysis, the 0% APR offer is limited to the Northeast, Southern, and Central US regions.
Dodge is also offering a $1,000 loyalty bonus for Stellantis (Jeep, Dodge, Ram, Chrysler) lessees that trade in for the electric Charger.
Update 11/26/24: The 2024 Dodge Charger Daytona EV launches with lease prices starting at $549 for 36 months. With $4,999 due at signing, the effective rate is $688 per month (10,000 miles per year).
Although it may not seem cheap, it’s a pretty good deal for a $60,000 electric muscle car. According to CarsDirect analysis, the outgoing Challenger R/T has an effective cost of at least $853 per month. And that’s with an MSRP of just $43,235. The EV model is nearly $20,000 more on paper but significantly less to lease than the aging 2023 model.
Meanwhile, the Scat Pack model may be an even better deal. With a lease money factor as low as 0.00006 on a 24-month lease, the Scat Pack trim is surprisingly lower than the lease rate of 0.00027 for the base R/T model.
It also has a higher residual value. On a 24-month lease, the Scat Pack trim has a 59% residual compared to the R/T’s 54%. With both trims eligible for a $7,500 lease incentive, the high-performance model could be an even better deal.
With the $7,500 EV tax credit incentive, eligible customers can save up to $8,500 on the 2024 Dodge Charger Daytona EV. You may want to act fast, as these deals expire on December 2, 2024.
Jeep, another Stellantis brand, launched lease prices at just $599 per month for its first luxury electric SUV last week, the Wagoneer S. Jeep’s electric Wagoneer is also available with 0% financing.
During the first three quarters of 2024, renewables increased their output by almost 9% year-over-year, and solar is still leading the charge, reports the US Energy Information Administration (EIA).
Solar’s massive growth
According to the EIA’s “Electric Power Monthly” report, which includes data through September 2024, solar power generation (including both utility-scale and rooftop installations) shot up by 25.9% compared to the first nine months of 2023.
Utility-scale solar grew even faster – up 30.1% – while small-scale solar (mostly rooftop) increased by 16.2%. Combined, solar contributed more than 7% of the total electricity generated in the US so far this year.
Zooming in on September, utility-scale solar generation grew by a whopping 29% compared to September 2023, and rooftop solar climbed by 14.2%. Combined, solar generated 7.5% of the nation’s electricity that month.
Small-scale solar made up nearly 30% of all solar generation from January to September and provided 2% of the country’s electricity. Interestingly, small-scale solar is now producing almost double the electricity of utility-scale biomass, and over five times that of either geothermal or petroleum-based power.
Wind and renewables mix
Wind power also saw strong growth so far this year. From January to September, wind output was up 6.6% compared to last year. Wind still holds the top spot among renewables, making up 9.9% of US electricity generation in the first nine months of 2024.
The combined contribution of wind and solar provided 17% of the US’s electricity for the first three-quarters of 2024. Altogether, renewables – including wind, solar, hydropower, biomass, and geothermal – supplied 24% of US electricity in that period, compared to 22.8% during the same time last year.
The numbers show that renewables are growing much faster than traditional energy sources. For example, in the first nine months of 2024, renewables grew by 8.6%, which is more than double the growth rate of natural gas (4.1%) and almost seven times that of nuclear (1.3%). Even in September alone, renewable power generation was up 7.9% compared to September 2023, making up 21.3% of total electricity generation that month.
Other notable trends
From January to September, wind generated 76.4% more electricity than hydropower, and solar surpassed hydropower by 27.2%. In September alone, wind and solar produced 73.5% and 65.9% more electricity, respectively, than hydropower, due to drought conditions, particularly in the Pacific Northwest.
For the first nine months of 2024, wind and solar together produced 14.5% more electricity than coal and came close to catching up with nuclear power’s share of electricity generation (17% compared to nuclear’s 17.6%). This growth has solidified renewables’ place as the second-largest source of electricity generation in the US, behind natural gas.
Ken Bossong, executive director of the SUN DAY Campaign, which reviewed the EIA’s data, put it simply: “Renewable energy sources now account for a quarter of the nation’s electricity. Any attempt by the incoming Trump Administration to undermine renewables would have serious negative impacts on both the country’s electricity supply and the economy.”
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