Volkswagen's 2024 Financial Overview

In a recent announcement, the Volkswagen Group disclosed its financial outcomes for the year 2024, revealing a modest revenue increase of 0.7% to €324.6 billion. Despite this uptick, the company faced challenges across several key areas.

Challenges in Sales and Production

The automotive giant experienced a 3.5% decline in vehicle sales, totaling 9 million units. Additionally, customer deliveries saw a 2.3% decrease, and production fell by 3.8% to 9.3 million units compared to the previous year.

Profit Margins Take a Hit

Operating profit took a significant downturn, dropping 15.4% to €19 billion. Furthermore, the earnings after tax for the entire year of 2024 saw a steep decline of 30.6%, amounting to €12.4 billion.

Looking Ahead to 2025

Despite these setbacks, Volkswagen is optimistic about the future, projecting a potential sales revenue increase of up to 5% in 2025. CEO Oliver Blume emphasized the company's commitment to transformation, a strategic model offensive, and the development of regionally tailored products as the foundation for sustainable growth.