Volkswagen Financial Report: 9.24 million vehicles delivered in 2023, making a profit of 22.6 billion euros

Recently, Volkswagen released its fourth quarter and full-year financial report for 2023. Data showed that in 2023, Volkswagen Group's sales revenue increased by 15% to 322.3 billion euros, and the group's operating profit remained at 22.6 billion euros (about 176.29 billion yuan) (2022: 22.5 billion euros).

In terms of deliveries, Volkswagen Group delivered a total of approximately 9.24 million vehicles, less than Toyota, ranking third in global automobile sales. The latter's global sales in 2023 were 11.2 million vehicles.

In terms of regions, the Chinese market is still Volkswagen's largest single market, but it faces the risk of declining sales growth. Last year, the Chinese market only grew by 2% year-on-year, far lower than the 18% year-on-year growth in the North American market and the 20% year-on-year increase in the European market.

However, in 2023, the delivery volume of Volkswagen's pure electric vehicles increased significantly, with a total sales of 771,000 vehicles, a year-on-year increase of 35%. The sales volume of pure electric vehicles also increased to 8.3% of the total sales of the Volkswagen Group.

Looking ahead to 2024, Volkswagen Group expects sales revenue to increase by 5% year-on-year in 2024, and the operating return on sales is expected to be between 7.0% and 7.5%;

In addition, Volkswagen Group said it will continue to focus on investing in the Chinese market, new products, battery business, and platforms for pure electric vehicles and fuel vehicles, with the investment ratio expected to reach a high of 13.5% to 14.5% in 2024;

Zikuai Technology