Annual Report & Full Year Results 2025

“In 2025 we put the new strength of the Volkswagen Group on the road and kept our company firmly on track, despite increasing global headwinds. We saw strong market demand for our innovative, exciting products, which won numerous prestigious awards. With state-of-the-art technologies, that make our customers’ everyday lives easier, safer and more comfortable. We have demonstrated that our substance is robust and that our future-oriented programs are working. Supported by strong financial momentum at year-end, we further strengthened our company. After three intensive years of realignment within the Volkswagen Group, we are seeing tangible progress. At the same time, we are operating in a fundamentally different environment. We are therefore determined to continue to pursue the course we have set. All the more reason for us to now enter the next phase of our transformation: adapting our business model to new conditions, expanding our regional footprint, continuing our disciplined work on saving costs, and delivering cutting-edge products. In 2026, we will launch affordable electric mobility with premium technology. In the Chinese market, we will start the largest product campaign in our history. And we will set key milestones for batteries, software and autonomous driving on our path to becoming the global automotive technology driver.”