Volkswagen Group's Financial Overview for 2024

In a recent announcement, the Volkswagen Group disclosed its financial outcomes for the year 2024, showcasing a modest increase in sales revenue to €324.6 billion, marking a 0.7% rise from the previous year.

Challenges in Vehicle Sales and Production

Despite the revenue uptick, the company faced significant challenges, with vehicle sales dropping by 3.5% to 9 million units. Deliveries to customers also saw a decrease of 2.3% year-on-year, totaling 9 million units, while production fell by 3.8% to 9.3 million units.

Profit Margins Take a Hit

The operating profit for Volkswagen took a substantial hit, plummeting by 15.4% to €19 billion. Furthermore, the earnings after tax for the full year of 2024 experienced a drastic plunge of 30.6%, landing at €12.4 billion.

Looking Ahead to 2025

Despite the hurdles faced in 2024, Volkswagen is optimistic about the future. The company anticipates its sales revenue for 2025 to increase by up to 5% compared to the previous year. CEO Oliver Blume expressed confidence in the company's strategy, stating, "In 2025, we will continue to focus on consistent implementation. As our transformation gains in traction, the new strength of Volkswagen Group comes to life. Our continuing model offensive, regionally tailored products for our markets around the globe and strong partners constitute the basis for sustainable positive development."