By Giulia Petroni

Volkswagen said that electric-vehicles deliveries increased by 45% in the first nine months of the year, but that order intake is currently below targets due to a lower-than-expected market trend.

The German car maker said Friday that it delivered 531,500 all-electric vehicles to customers between January and September, compared with 366,600 vehicles in the year-earlier period.

The share of battery-electric vehicles increased to 7.9% from 6.1% in the prior year, reaching 9% in the third quarter.

"Despite the current general reluctance in the European market to buy battery-powered vehicles, we gained market share and remained market leader in this segment," said Hildegard Wortmann, member of the company's extended executive committee for sales. "However, our order intake is below our ambitious targets due to the lower-than-expected overall market trend."

Europe remained a key driver of growth with 341,100 vehicles collected in the nine-month period, followed by China and the U.S., Volkswagen said.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

October 13, 2023 05:58 ET (09:58 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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