31. Trade payables
€ million |
|
Dec. 31, 2023 |
|
Dec. 31, 20221 |
||||
|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
||||
Trade payables to |
|
|
|
|
||||
third parties |
|
30,157 |
|
27,966 |
||||
unconsolidated subsidiaries |
|
210 |
|
196 |
||||
joint ventures |
|
204 |
|
227 |
||||
associates |
|
322 |
|
342 |
||||
other investees and investors |
|
8 |
|
7 |
||||
|
|
30,901 |
|
28,738 |
||||
|
||||||||
Trade payables include an amount of €993 million (previous year: €403 million) for which the Volkswagen Group has entered into reverse factoring agreements.
Under these agreements, suppliers can assign their receivables from Volkswagen Group companies at a discount to the commercial banks participating in the program and in this way receive the discounted invoice amount prematurely.
The Volkswagen Group companies settle the invoice amount with the bank as of the due date originally agreed.