Volkswagen Group praises 2019 as a successful year

Worldwide
Published:  17 March, 2020

The Volkswagen Passenger Cars brand recorded worldwide sales revenue up 4.5% to €88.4 billion in 2019, compared with the previous year, while Bentley posted improved operating profit.

Operating profit before special items increased to €3.8 billion and improvements in the mix and price positioning, in particular, are said to have compensated for lower sales of Volkswagen Passenger Car models and for launch costs and negative exchange rate effects. The operating return on sales before special items increased to 4.3%.

As for the Volkswagen Group, the positive results were led by Porsche, Seat and Skoda brands, as well as the Volkswagen Passenger Cars. Audi brand’s sales revenue, however, declined to €55.7 billion, while operating profit amounted to €4.5 billion. Sales revenue at the Škoda brand increased 14.5% in 2019 to €19.8 billion. Seat is reported to have continued its upward trend with sales revenue at €11.5 billion, exceeding the previous year’s record figure by 12.7%.

The Bentley brand generated sales revenue of €2.1 billion in the year, exceeding the equivalent prior-year figure by 35.1%, and operating profit improved to €65 million driven by higher volumes, as well as by cost savings in connection with the ongoing efficiency program together with mix effects and exchange rate trends, according to the manufacturer. The brand’s operating return on sales increased to 3.1%. Sales revenue for Porsche Automotive increased 10.1% to €26.1 billion and operating profit before special items improved 2.4% year-on-year to €4.2 billion. According to the Group, volume and mix improvements as well as product cost optimisation compensated for negative exchange rate effects and cost increases.