On July 28th at 9:00 AM German time, Volkswagen Group announced its first half financial report, which was hosted by Arno Antlitz, the CFO and COO of Volkswagen Group.
In the first half of this year, Volkswagen Group sold 4 million vehicles, a 14% decrease compared to the same period last year. However, the sales revenue increased by 2% compared to the same period of last year, reaching 132.3 billion euros.
The operating profit, not including special items, increased by 16% to 13.2 billion euros compared to last year. The profit margin reached 10%, and the after-tax profit increased by 25.8% to 10.6 billion euros.
Looking at the sales performance of pure electric vehicles, the global delivery of Volkswagen’s pure electric vehicle models in the first half of the year increased by 27% compared to the same period last year, accounting for 5.6% of the Volkswagen Group’s sales. Last year, it was only 3.4%.
Volkswagen stated that it will continue to prioritize investment in pure electric technology and software and is confident that the share of pure electric vehicles can be increased to 8.3% in the fourth quarter, achieving a 7-8% market share for the whole year.
Volkswagen also revealed that since the second quarter, due to the rapid growth in demand for pure electric vehicles, Volkswagen has started to accelerate the production of ID.4 cars at its factories in Emden, Germany, and Chattanooga, USA.
In the second half of this year, with the alleviation of chip supply shortage and good news of strong order demand, Volkswagen expects that automobile production will be normalized.
However, due to uncertain factors such as the Russia-Ukraine conflict, energy supply, and COVID-19 pandemic, Volkswagen stated that it will remain cautious and continue to quickly transform towards new energy directions.
Comment
As a pioneer of the transformation of traditional car manufacturers into new energy, Volkswagen Group has achieved good sales results in the field of new energy vehicles since the launch and delivery of various models of the ID series.
Although the departure of the former CEO, Diess, has had a certain impact on the Volkswagen Group, given that Arno Antlitz was promoted by Diess, Volkswagen still believes that it will continue to move forward firmly in the field of new energy vehicles.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.