Volkswagen Group Achieves Solid Annual Results, Delivered 8.2 Million Vehicles In 2022

Volkswagen Group, which controls brands including Audi, Bentley, Lamborghini and Porsche, delivered a robust performance in 2022.

Sales revenue increased by 11.6% to €279.2b while operating profit before special items increased by €2.5b to €22.5b (from €20.1b).

Volkswagen Group’s Operating profit before special items increased 13 percent to € 22.5 billion.

Delivered 8,263,000 (–7%) vehicles last year – decline due to semiconductor shortages, disruptions in the logistics chain, supply stoppages in China.

Deliveries of battery-electric vehicles (BEV) to customers up by 26 percent totalling 572,100 units in 2022.

VW Group’s outlook for 2023 foresees deliveries to rise to 9.5 million vehicles and sales revenues to increase between 10 and 15%.

The Volkswagen Group, which controls brands including Audi, Bentley, Bugatti, Lamborghini and Porsche, on Friday said it delivered a robust performance in 2022 despite supply disruptions and headwinds from higher raw material and energy costs.

Thanks to sales of better equipped vehicles, sales revenue increased by 11.6 percent to EUR 279.2 billion while operating profit before special items increased by EUR 2.5 billion to EUR 22.5 billion (from EUR 20.1 billion).

The Volkswagen Group’s Profit before tax increased by 9.5 percent to EUR 22 billion (from EUR 20.1 billion) while profit after tax increased by 2.6 percent to 15.8 billion euros (from 15.4 billion euros)

Deliveries of vehicles reached 8,263,000 (–7.0%) last year, which was less than the 8,882,000 delivered in 2021 due to semiconductor shortages, disruptions in the logistics chain and supply stoppages in China.

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Last year, a total of 572,100 BEVs were delivered to customers, which was 26 percent more than in the previous year which demonstrates the popularity of the Group’s unique BEV model range.

Arno Antlitz, CFO and COO of the Volkswagen Group, said :

“Our performance last year demonstrated the improved resilience of the Volkswagen Group amid a challenging global backdrop. Despite significant supply chain challenges leading to a decline in overall delivery numbers, we delivered 572,100 all-electric vehicles and simultaneously further increased operating profits.

“Today’s results provide more evidence of solid financial foundations on which we consistently implement our strategy. We expect the supply chain bottlenecks to gradually ease in the current year, allowing us to service the high order backlog.”

The Volkswagen Group’s outlook for 2023 foresees deliveries to rise to about 9.5 million vehicles (an increase of more than 14% year-on-year) and sales revenues to increase by between 10 and 15 percent.

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