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Robust Sales Results and a Focus on Electric
Volkswagen Group rounded out 2023 with robust financial figures and a significant focus on electric vehicles (EVs). Sales revenue jumped 15% to reach a whopping EUR 322.3 billion – a result propelled by more deliveries, a stronger model mix, and advantageous pricing. It was a milestone year for their electric cars, too.
EV Success in Numbers
Battery electric vehicle (BEV) deliveries surged by 35%, reaching a total of 771,000 in 2023. This growth was seen across markets, proving their commitment to electric. Even better, Volkswagen’s dedication to EVs is reflected in their market share – BEVs represented 8.3% of their sales throughout 2023, a jump from 6.9% compared to the year prior.
CEO’s Words: Change in Motion
“2023 was a transformative year for the Volkswagen Group,” states Oliver Blume, CEO of the Volkswagen Group. “We’ve been relentless in implementing our strategic plan, and now we’re in the perfect position to accelerate this exciting EV shift throughout 2024 and beyond.”
Finance Chief Highlights Strength
Arno Antlitz, CFO & COO of Volkswagen Group, adds: “2023 showed us just how resilient we’ve become. Our vehicles are fantastic, and we’ve got bold programs in place to keep things efficient. This gives us confidence as we look at 2024, even with the expected economic challenges and intense competition.”
More Cash Flow, Higher Dividends
Volkswagen’s net cash flow in the Automotive Division more than doubled in 2023, hitting EUR 10.7 billion. This was thanks to increased sales and clever inventory management at year’s end. Their shareholders will be happy, as this robust performance means the Board of Management and Supervisory Board have proposed a dividend increase to EUR 9.00 per ordinary share and EUR 9.06 per preferred share.
Outlook for 2024: Confident and Electric
The Group expects another sales revenue increase of up to 5% in 2024. They also target an operating return on sales between 7.0% and 7.5%. Investments will focus on the ever-important Chinese market, new products that excite buyers, battery tech, and platforms supporting all their EV advancements.
Why This Matters to EV Enthusiasts
The strong performance from Volkswagen in 2023, combined with their clear focus on electric cars, is fantastic news if you’re an EV enthusiast. Here’s why:
- More EV Choices: VW is accelerating its EV strategy, which means more exciting battery-powered cars coming your way!
- Increased Competition: Volkswagen’s success adds competitive fuel to the EV market, which benefits customers with better options and potentially lower prices.
- Strong Investment: They’re putting serious money into battery technology and new electric platforms. This means faster-charging EVs with longer ranges.
What’s Next?
It’s important to remember that the path ahead isn’t without challenges. The economy, increasing competition, and shifting regulations are things they’ll need to navigate. However, Volkswagen looks well-positioned to continue their impressive growth in the EV market place.
Frequently Asked Questions
How many EVs has Volkswagen sold?
In 2023, Volkswagen Group sold an impressive 771,000 battery electric vehicles (BEVs) globally. This represents a significant 35% increase compared to the previous year.
What percentage of Volkswagen cars are electric?
In 2023, battery electric vehicles (BEVs) accounted for 8.3% of Volkswagen Group’s total sales. This shows a meaningful increase from the previous year’s 6.9%, indicating a strong shift towards electric vehicles within the company’s portfolio.
What is the highest-selling EV car company?
Tesla remains the global leader in EV sales. However, Volkswagen Group is making significant strides. Their increasing EV sales position them as a strong contender in the rapidly growing electric vehicle market.
What is the best-selling VW electric car?
The Volkswagen ID.4 is currently the brand’s best-selling electric model. It’s a popular choice due to its spacious interior, long range, and competitive pricing within the EV crossover segment.
