Volkswagen Group, gloomy prospects for 2024. «Strong competitors» | EUROtoday

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European automakers have come below strain from U.S. rival Tesla and Chinese rivals at a time when world momentum for electrical automobiles is fading as a consequence of declining gross sales development and declining authorities help.

In 2023 working revenue +2.1% and deliveries of 9.24 million

As for the opposite outcomes for 2023, working revenue was 22.6 billion euros, up 2.1% on an annual foundation. The margin decreased in comparison with the earlier 12 months (7.9%) and stood at 7%. Revenues rose by 15.5% to 322.3 billion euros and deliveries amounted to 9.24 million models (+11.8%).

BEV automobile deliveries rose by 35% to 771 thousand models, reaching 8.3% of the overall. Net money circulation within the Automotive division greater than doubled to 10.7 billion euros, supported by a pointy discount in inventories on the finish of the 12 months. The web liquidity of the Automotive division amounted to 40.3 billion euros on the finish of the 12 months, after the cost of dividends of roughly 11 billion euros (it was 43 billion in 2022).

Orders in Western Europe normalized additional originally of the 12 months to 1.1 million automobiles. The Management Board and the Supervisory Board will suggest to the shareholders' assembly a dividend of 9 euros per abnormal share and 9.06 euros per most well-liked share, equal to a payout ratio of 28 %.

Blume: clean-up work accomplished

«2023 was an necessary 12 months for the Volkswagen Group when it comes to realignment. Last 12 months we continued to implement our 10-point program. The “clean-up” work has been accomplished. The primary street for the restructuring of the Group has been traced. We can construct on this in 2024 and have a strong basis for an accelerated restoration beginning in 2025,” commented the CEO Oliver Blume.