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Half-Yearly Financial Report 2025

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On July 25, 2025 the Volkswagen Group will publish the results for the first half of 2025.

Portrait of Oliver Blume, CEO Volkswagen Group
“Driven by the success of our new products, Volkswagen Group held its ground in an extremely challenging environment. We made noticeable improvements in design, technology, and quality, and achieved significant progress in software. Our sales figures remain stable in a competitive global market. In Europe we expanded our leading position in electric mobility, with a market share of 28 percent and order books remain well filled. Supported by our ongoing product offensive and consistently good demand, we expect the positive trend to continue in second half of the year.”
Oliver Blume CEO Volkswagen Group
Portrait of Oliver Blume, CEO Volkswagen Group
The picture shows Dr. Arno Antlitz in front of a grey concrete wall. He is wearing a suit and a shirt as well as dark glasses.
“Our half-year figures present a contrasting picture: on the one hand, we achieved strong product success and made progress in realigning the company. On the other, the operating result declined by a third year-on-year – also due to higher sales of lower-margin all-electric models. In addition, increased US import tariffs and restructuring measures had a negative impact. Excluding these items, the operating margin in the second quarter is at nearly seven percent, representing the upper end of our expectations. This shows that we are on the right track. But what really matters is cash in the bank. That’s why we must press ahead with our ongoing programs to improve earnings and pick up the pace where necessary.”
Arno Antlitz CFO & COO Volkswagen Group
The picture shows Dr. Arno Antlitz in front of a grey concrete wall. He is wearing a suit and a shirt as well as dark glasses.

Volkswagen Group delivers solid results in challenging environment

  • 158.4 billion EUR sales revenue in H1 2025, roughly in line with prior-year level (H1 2024: EUR 158.8 billion)
  • 6.7 billion EUR Operating Result in H1 2025, 33% below H1 2024 (EUR 10 billion); Operating Margin of 4.2%
  • –1.4 billion EUR Net Cash Flow in the Automotive Division in H1 2025 (H1 2024: EUR 0.4 billion)
  • 4.36 million vehicle sales in H1 2025, slightly above H1 2024 (4.34 million vehicles)
  • Order intake for vehicles in Western Europe rises by 19% in H1 2025
To Press Release

Webcast and conference call for investors, analysts and media

Start: 9:00 a.m. (CEST)
With: Oliver Blume, CEO and Arno Antlitz, CFO and COO

Followed by: Q & A session for investors and analysts
Then: Q & A session for media

A man on stage presenting a chart on the strategic direction of the Volkswagen Group.
TO THE WEBCAST

 

Half-Yearly Financial Report 2025

Documents

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 www.dat.de/co2.