VOW3 Volkswagen AG

   By Jessica Sier 
 

Volkswagen AG has tripled registrations for its electric-battery vehicles, or BEV, in the first quarter, catching up to the Renault-Nissan-Mitsubishi Alliance, says Schmidt Matthias Auto Data, a research firm.

Volkswagen, and its subsidiary brands like Audi, Skoda, SEAT and Porsche, reported that BEV volumes reached 27,700 in Western Europe for 1Q, accounting for 21.9% of the total market.

"This was equivalent to three times the volume it registered during the same period last year and was subsequently already just over half of 2019's full-year total, after just one quarter," said Matthias Schmidt, publisher and analyst at Schmidt Matthias Auto Data.

Volkswagen's 1Q result is 1,000 units behind the Renault-Nissan-Mitsubishi Alliance, which saw 28,700 BEV registrations in the 1Q.

One in four new BEV registrations were for the basic-sector family models, rather than Volkswagen's premium BEVs, Mr. Schmidt said.

Should European governments install a scrappage-incentive program--where people trade in their older vehicles for new ones--then BEV registration could surge, and the price of these basic-models could fall to as little as 10,000 euros ($10,860), said Mr. Schmidt.

Volkswagen is targeting a 6% BEV mix across Europe in 2020 to meet its compliance levels, according to company data compiled by the research firm. During the first quarter it achieved a 3.9% BEV mix.

Write to Jessica Sier at jessica.sier@wsj.com

(END) Dow Jones Newswires

April 30, 2020 07:41 ET (11:41 GMT)

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