Volkswagen brand likely to reach full year targets

Worldwide
Published:  31 October, 2019

Sales revenue for the German car brand increased 4.7% to €65.4 billion between January and September 2019.

Despite a decline in deliveries, sales revenue for the Volkswagen (VW) car brand amounted to €65.4 billion (+4.7%) in the first nine months of 2019, compared with the same period in 2018, primarily driven by mix and price effects. Operating profit before special items rose to €3.2 billion, up +35% on the prior-year period, which had been negatively impacted by the WLTP changeover.

“The Volkswagen brand has performed very well in the year to date in a challenging operating environment and remains on a profitable growth trajectory. Our product offensive and the measures we have taken to enhance efficiency and profitability are increasingly paying off”, said Dr Arno Antlitz, Chief Financial Officer, Volkswagen Passenger Cars. “This means that we are well on our way to achieving our full-year targets. At the same time, we are working step by step to create the earnings power we need for the successful implementation of our strategy.”

Between January and September, the VW brand delivered a total of 4,514,600 vehicles compared with 4,622,800 in the first nine months of 2018, down 2.3%, while the global market recorded a 5% decline. The carmaker said it continued its product offensive in all key markets in the current year, with particular focus on the SUV segment; higher demand was registered in particular for the T-Roc, Tiguan, Touareg and Atlas models, while the new T-Cross is said to have been well received by the market.

VW has recently presented the Golf VIII, with deliveries to customers in Germany and Austria expected in December 2019, to be followed by the launch of the ID.3, its compact, mass-produced electric vehicle unveiled in September.