Volkswagen Group Full-Year Report 2023

Volkswagen Group achieves robust annual results for 2023, with a strong fourth quarter

Highlights

• Sales revenue up 15 percent year-on-year to EUR 322.3 billion, driven by an increase in deliveries in Europe and North America
• Order bank in Western Europe normalizes further at the beginning of the year to
• 1.1 million vehicles
• Deliveries of battery-electric vehicles (BEV) up by 35 percent to 771,000 units in 2023; share of Group deliveries increased continuously throughout the year and reached 8,3 percent in 2023
• Operating profit before special items of EUR 22.6 billion remains at the previous year’s level; positive volume, price, and mix effects largely offset higher product costs and negative valuation effects of EUR 3.2 billion
• Operating profit margin slightly down compared to the previous year at 7 percent
• Net cash flow in the Automotive Division more than doubled to EUR 10.7 billion, supported by a sharp reduction in inventories at the end of the year