Finance
Charts Fiscal Year 2023 of the Volkswagen Brand
Press releases
-
Brand Group Core increases operating profit in Q1 2024 despite challenging market environment
The Brand Group Core delivered robust financial results in the first quarter of 2024. With stable vehicle sales and slightly lower sales revenue, the Brand Group Core reported a significant year-on-year increase in operating profit and operating return. At 6.4%, operating return was well within the target corridor of 6-7% for 2024. All brands contributed to this achievement, reporting higher returns on the basis of focused cost management as well as increased implementation of synergy and efficiency measures within the Brand Group. The financial performance in the first quarter felt the impact of offsetting effects – these included, for example, the abrupt termination of government incentives for electric cars in the German market and the related discount measures at the beginning of the year. Furthermore, there was high depreciation attributable to investments in product campaigns and the related ramp-up of electric products. The Brand Group Core was, however, able to counteract these effects in the first quarter of 2024 with a balanced product mix. The slight dip in demand for all-electric vehicles (BEV) was offset by higher deliveries of ICE models. Overall, stable Q1 unit sales figures at Brand Group level reflect these effects. -
Brand Group Core improves result and return in 2023 – closer cooperation between the volume brands is gaining traction
The Brand Group Core delivered robust financial results in 2023. Higher volume and price effects, improved availability of parts and lower fixed costs had a positive effect, while higher product costs and the deconsolidation of Volkswagen Group Rus had a negative impact on the result. The global market and competitive environment remains challenging. The Brand Group Core is working on further stabilizing its performance with a view to improving its resilience against external factors, in particular given the slower development of the e-mobility market in Europe. -
Around 4.87 million vehicles worldwide: Volkswagen brand increases deliveries in 2023
The Volkswagen brand significantly increased its deliveries last year, with: around 4.87 million vehicles handed over to customers worldwide. The figures exceeded the previous year’s numbers in all regions. In total, the increase in deliveries was 6.7 per cent. Demand for electric mobility also grew: Volkswagen handed over about 394,000 fully electric vehicles to customers worldwide in 2023, which corresponds to an increase of 21.1 per cent compared to the previous year.