VW and BMW See Strong EV Sales Growth in China in Q1, Hitting Major Milestones Amidst Diminishing Demand in Europe

Volkswagen's EV sales in China grew 91% year-over-year in Q1 despite facing diminishing demand in Europe
BMW reported 40.6% growth in EV sales in Q1 and hit a major milestone of selling its 1 millionth electric vehicle
Volkswagen spent $5 billion in 2022 to defend its position in China against rivals like Tesla and BYD
BMW's overall auto sales rose 2.5% year-over-year in Q1, outpacing rivals
Volkswagen's total global auto deliveries rose 3% in Q1 fueled by China and the Americas despite its tricky EV journey