Volkswagen Passenger Cars

The Volkswagen Passenger Cars brand celebrated the market debut of the new Tiguan in fiscal year 2023. It also launched the all-electric ID.7 saloon. The operating result improved year-on-year.

BUSINESS DEVELOPMENT

The Volkswagen Passenger Cars brand aims to move people. The centerpiece of the ACCELERATE 2030 strategy is a global initiative through which the brand aspires to transform itself into a technology and software business focused on customer needs.

The high point of the Volkswagen Passenger Cars brand’s activities in fiscal year 2023 was the market debut of the completely redeveloped bestselling Tiguan, now in its third generation. The interior, with a clearly structured digital cockpit, an infotainment screen, a head-up display and a driver experience switch, is intuitive and the result of actual customer feedback. The new plug-in hybrid drives permit an all-electric range of up to around 100 kilometers and fast DC charging. The new adaptive chassis control system DCC Pro – a piece of technology from the premium segment – provides maximum comfort and agility. New generations of the popular Passat and Touareg models were also launched in the reporting year.

In April 2023, the Volkswagen Passenger Cars brand celebrated the world premiere of the new ID.7, the brand’s first global electric model in the upper mid-sized class. The fully electric saloon combines long ranges, quick charging, a spacious interior and intuitive operation, making it the new benchmark for all-electric premium models at Volkswagen. The innovative panoramic sunroof with “smart glass” can be switched between opaque and transparent electrically by touch control. Impressive new all-electric concept vehicles were also unveiled: the compact ID. 2all and the sporty ID. GTI Concept.

The Volkswagen Passenger Cars brand delivered 4.9 million vehicles globally in fiscal year 2023. This was 6.7% more than in the previous year. Growth was achieved above all in Western Europe (+14.7%), North America (+17.0%) and South America (+15.9%).

The Volkswagen Passenger Cars brand sold 3.0 (2.6) million vehicles in the reporting year. ID. family models, the Tiguan and the T-Roc were increasingly sought-after. The Taigo was also very popular. The difference between deliveries and unit sales is due mainly to the fact that the vehicle-producing joint ventures in China are not attributed to the companies in the Volkswagen Passenger Cars brand.

The Volkswagen Passenger Cars brand produced 4.9 (4.8) million vehicles worldwide in 2023. Volkswagen do Brasil, the largest vehicle manufacturer in Brazil, reached the production milestone of 25 million vehicles in its 70th year of existence.

SALES REVENUE AND EARNINGS

The Volkswagen Passenger Cars brand increased its sales revenue by 17.1% year-on-year to €86.4 billion in 2023. The operating result (prior-year figure before special items) improved to €3.5 (2.6) billion. Higher volume and price effects plus lower fixed costs had a positive impact, while a rise in product costs as well as the deconsolidation of Volkswagen Group Rus weighed on the result. The operating return on sales (prior-year figure before special items) amounted to 4.1 (3.6)%.

ID.7

DELIVERIES BY MARKET

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