Volkswagen Has Secured 144,000 Orders For ID.3 EVs So Far This Year In Europe And Half Of These Are New Customers

German automaker Volkswagen Ag VWAGY said on Wednesday it secured above 144,000 orders for its compact electric car ID.3 in Europe in the first nine months of this year.

What Happened: The automaker said about half those orders — 70,000 — were from new customers who had not driven a Volkswagen before and were completely new to the brand.

“The ID.3 has tapped into an above-average number of new buyer groups” for the company, Volkswagen Board Member for Sales Klaus Zellmer said in a statement. "Some 70,000 new customers are strong proof that we are exactly on the right track with this vehicle and our electric mobility strategy."

Volkswagen said the average ratio of new customers for its other models is around 36%.  The company said it is rushing to meet the strong demand and shipping about 1,200 units of the best-selling electric cars from Zwickau and Dresden every day.

Volkswagen also revealed production for the Chinese market has started in Anting and the more affordable ID.3 will be launched in the fall of this year. It already makes and sells the ID.4 and the ID.6 series in China with local joint ventures.

See Also: Volkswagen Joins Nio, Xpeng In China's 10K September EV Deliveries Club With ID. Series

Why It Matters: Volkswagen started selling the ID.3 series last year.

Volkswagen has since launched other models in the ID. series, including the ID.4 and it plans to launch ID.5, its first electric SUV "coupe” soon.

In China, where it is the No.1 automaker by sales, Volkswagen has set an ambitious sales target for its ID. series.  The world’s second-largest automaker aims to sell up to 100,000 ID. series electric vehicles in China this year. 

The ID.4 competes with Tesla Inc’s TSLA Model Y and Ford Motor Co’s F Mustang Mach-Es.

Price Action: Volkswagen OTC shares closed 3.44% lower at $29.86 on Wednesday.

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Photo: Courtesy of Volkswagen