Solid results for Volkswagen Group
Automotive maker Volkswagen Group has announced “solid nine-month results”, with sales up 16% to €235.1 billion despite a “challenging environment”.
Deliveries increased 11% year-on-year to 6.7 million vehicles.
Deliveries of battery electric vehicles (BEV) increased by 45% to 531,500 vehicles in the first nine months; BEV share of total deliveries grew to 8%.
In July, Volkswagen Group published its third Responsible Raw Materials Report, covering 2022. It introduced its first specification sheet for tanneries, and included transparency on raw hide provenance, animal welfare standards and Leather Working Group audits. It expects extra due diligence on hides that come from countries with a high risk of deforestation.
Arno Antlitz, chief financial officer at Volkswagen Group, said: “Overall, we are on a robust course and have again increased sales volumes and revenues in the third quarter. However, we cannot be satisfied with our profitability, which in the third quarter fell short of our ambitious targets. We are now concentrating on the systemic implementation of the 10-point plan and our cross-brand performance programmes.”
The group includes Audi, Lamborghini, Bentley, Ducati and Porsche.
