Brand Group Core improves result and return in 2023 – closer cooperation between the volume brands is gaining traction

Infographic on the financial performance of the core brands of the Volkswagen Group with sales and result figures.
Focus on rigorous cost discipline and profitability in the Brand Group Core.
  • Brand Group Core operating profit grew 80% in 2023 to 7.3 billion euros
  • Operating return rose to 5.3% in 2023 on the back of a rigorous focus on cost discipline and profitability
  • Year-on-year improvement in return at all five volume brands SEAT/CUPRA, Škoda, Volkswagen Commercial Vehicles and Volkswagen
  • Brand Group Core sales revenue increased by 21% to 138 billion euros
  • Systematic reduction of inventories significantly improved net cash flow to 5.6 billion euros in 2023
  • The Brand Group Core plans to increase its result in 2024, bolstered by the related effects from the volume brands’ ongoing performance programs
  • Thomas Schäfer, Member of the Board of Management of Volkswagen AG, Head of the Brand Group Core & CEO of the Volkswagen Passenger Cars Brand: “The Brand Group Core has a clear strategy – and we are delivering: through close cooperation between our brands, we are working more efficiently, becoming more competitive and boosting our innovativeness for our customers worldwide. It is very important that we continue to improve our economic performance in a difficult environment. That gives us the financial leeway to make targeted investments in vehicles and technologies that enable us to meet customers’ high expectations of our brands.”

Wolfsburg. The Brand Group Core delivered robust financial results in 2023. Higher volume and price effects, improved availability of parts and lower fixed costs had a positive effect, while higher product costs and the deconsolidation of Volkswagen Group Rus had a negative impact on the result. The global market and competitive environment remains challenging. The Brand Group Core is working on further stabilizing its performance with a view to improving its resilience against external factors, in particular given the slower development of the e-mobility market in Europe.

The specified fuel consumption and emission data does not refer to a single vehicle and is not part of the offer but is only intended for comparison between different types of vehicles. Additional equipment and accessories (additional components, tyre formats, etc.) can alter relevant vehicle parameters such as weight, rolling resistance and aerodynamics, affecting the vehicle's fuel consumption, power consumption, CO2 emissions and driving performance values in addition to weather and traffic conditions and individual driving behavior. Further information on official fuel consumption data and official specific CO2 emissions for new passenger cars can be found in the "Guide to fuel economy, CO2 emissions and power consumption for new passenger car models", which is available free of charge from all sales dealerships and from DAT Deutsche Automobil Treuhand GmbH, Hellmuth-Hirth-Str. 1, D-73760 Ostfildern, Germany and at