30 New Rides: Volkswagen’s Massive Push to Reshape the Auto Industry

Volkswagen Group’s 2024
30 new models and customized strategy
Will there be a turnaround in the automobile market?

Volkswagen Group has revealed its ambition to lead the global automobile market in 2024. This year, Volkswagen Group plans to launch 30 new models across multiple brands. This includes updated versions of models such as the new Porsche Macan, new Audi Q6 e-tron, new Volkswagen ID.7, Golf, Tiguan, Passat, and Skoda Superb.

2024 is a tumultuous year for the global automotive industry, but this automaker announced a goal of a 3% increase in sales. This is a lower figure than the growth rate in 2023, but it does not seem easy given the current trend in the global automobile market. However, the group’s CFO said, “We are confident in 2024.”

Amid fierce competition in the automobile market, Volkswagen Group’s new electric vehicles are expected to play a major role in increasing sales. At the end of 2023, the automaker’s electric vehicle sales growth slowed. However, Volkswagen’s officials expressed their desire to focus on electric vehicles, saying they are our future.

Volkswagen Group is changing its main target markets. The company sees the U.S. as a market that will drive sales growth in response to declining sales in China, its main market. Sales in the U.S. improved by more than 9% in 2023 and are expected to increase by 22% in 2024.

Targeting the U.S. market

To target the U.S. market, the Volkswagen Group of America CEO said it would stick to its plan to launch new vehicles for ID, its core electric vehicle brand. Buzz and ID.7 sedan will soon join the U.S. market along with ID.4, but considering U.S. demand, the type of electric vehicle Audi launches may be changed to a plug-in hybrid. 

Volkswagen Group of America CEO noted that the Tiguan PHEV is attracting great interest. He then added that this vehicle is a model based on the MQB platform, which can easily be applied to other SUVs if desired. After this announcement, much attention is being paid to the conversion of Atlas, an SUV based on the MQB platform, to a PHEV.

The key to growth is collaboration

Volkswagen Group is pursuing collaboration in addition to launching new growth models. The company announced plans to launch the ID.1, priced at approximately 29 million won (about $21,650), through collaboration with Renault. Extensive collaboration is considered a competitive advantage of Volkswagen Group. In addition to Renault, the automaker has been working with China’s Xpeng to increase its relevance to Chinese consumers and regain market share.