News
This is an overview of articles and relevant publications of the Group, its brands and business units.
Brand Group Core with stable sales revenue and product offensive in first half of 2024 - High fixed costs and one-off effects significantly impact profitability of Volkswagen brand
In a year shaped by a persistently weak economic environment, more intense competition and political challenges, the Brand Group Core continues to focus on successful model ramp-ups and execution of the performance programs in the various brands. The Brand Group plans to boost profitability in the second half of the year through a clear focus on strict cost efficiency and the realization of synergies generated by cooperation, as well as through growth.
TRATON sells a total of 78,960 vehicles in the second quarter of 2024
With the market environment continuing to normalize, the TRATON GROUP also recorded slightly declining unit sales in the second quarter of 2024. According to preliminary data, a total of 78,960 vehicles were delivered across all brands in the second quarter of 2024, down 5% on the prior-year quarter. In the first half of the year, unit sales amounted to 160,108 vehicles, also equivalent to a decline of 5%.
Porsche delivers 155,945 vehicles in the first half of the year
In the year of product launches, Porsche maintains stable sales in the first half of 2024: a total of 155,945 vehicles were handed over to customers worldwide between January and June.
ChatGPT is now available in many Volkswagen models
Volkswagen models featuring the new-generation infotainment system are now also equipped with artificial intelligence (AI) of ChatGPT. The AI-based research tool is available in all new vehicles in the all-electric ID. family, as well as in the new Golf, new Tiguan and new Passat. It can be accessed using the IDA voice assistant and offers a range of new options that go far beyond the voice control previously available. For example, customers can now have search results read out to them, and can interact with the car using natural language.
TRATON shareholders approve Executive and Supervisory Boards’ actions and resolve on 2023 dividend — more than double last year’s
TRATON SE shareholders have approved all items on the agenda for this year’s Annual General Meeting by a large majority. One of the votes resolved on a dividend payout of €1.50 per share for fiscal year 2023, more than twice as high as last year’s figure of €0.70. In addition, the shareholders approved the actions of the members of the Executive and Supervisory Boards for fiscal year 2023 as well as the submitted remuneration report.
Porsche AG updates product range and doubles dividends
Porsche AG holds its virtual Annual General Meeting on 7 June. Chairman of the Executive Board Oliver Blume expresses his satisfaction to the company’s shareholders and explains the current strategy, which the management aims to continue pursuing despite the challenging macroeconomic conditions.
TRATON to be uplisted to the MDAX
TRATON SE will be uplisted from the SDAX to the MDAX, which tracks the performance of the 50 largest companies following the DAX stocks on the Regulated Market of the Frankfurt stock exchange. According to the information provided by Deutsche Börse, TRATON’s admission to this key stock market index will be effective from June 24, 2024.
Vorsprung durch Technik recharged: Audi and SAIC further strengthen partnership
Audi is further intensifying the collaboration with SAIC and SAIC Volkswagen in a Cooperation Agreement. Audi and SAIC have decided to jointly develop new models built on a China-specific platform named “Advanced Digitized Platform” for the next generations of premium intelligent, connected vehicles (ICV). Cooperation starts with three BEV models covering B and C segments to quickly enter into the dynamic and fast-growing electric vehicle market in China.
New models, clear plan: Audi Board of Management optimistic about the future after a challenging first quarter
2024 will be a demanding year for the Audi Group. The challenging market environment and supply bottlenecks, especially for V6 and V8 engines, had a particularly negative impact on operating profit in the first quarter of the year. The company also has to manage numerous product ramp-ups. Revenue reached €13.7 billion in the first quarter of the year, while operating profit amounted to €466 million. The operating margin was 3.4 percent. In the first three months of the year, the Brand Group Progressive delivered 402,048 automobiles to customers – a decline of 4.7 percent. The demand for fully electric models, however, increased by 3 percent. Audi registered a significant increase of 13.7 percent in China, with 156,082 models delivered.
Brand Group Core increases operating profit in Q1 2024 despite challenging market environment
The Brand Group Core delivered robust financial results in the first quarter of 2024. With stable vehicle sales and slightly lower sales revenue, the Brand Group Core reported a significant year-on-year increase in operating profit and operating return. At 6.4%, operating return was well within the target corridor of 6-7% for 2024. All brands contributed to this achievement, reporting higher returns on the basis of focused cost management as well as increased implementation of synergy and efficiency measures within the Brand Group. The financial performance in the first quarter felt the impact of offsetting effects – these included, for example, the abrupt termination of government incentives for electric cars in the German market and the related discount measures at the beginning of the year. Furthermore, there was high depreciation attributable to investments in product campaigns and the related ramp-up of electric products.
