Interim Report January - September 2023


Third Quarter Results 2023

On October 26, 2023 the Volkswagen Group published the results for the third quarter of 2023.

Dr. Arno Antlitz, Finance and Operations
“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 programs.”
Arno Antlitz CFO & COO of Volkswagen Group
Dr. Arno Antlitz, Finance and Operations




million, +11 % vs. Q1-Q3 2022 DELIVERIES
EUR billion, +16 % vs. Q1-Q3 2022 SALES REVENUE
EUR billion, -7% vs. Q1-Q3 2022 OPERATING RESULT*

Volkswagen Group delivers solid nine-month results in a challenging environment; disruptions in production and higher product costs impact third quarter

  • Sales revenue growth of 16 percent year-to-date to 235.1 billion euros
  • Vehicle sales up 8 percent to 6.8 million units
  • Operating profit in the first nine months decreased by 7 percent to 16.2 billion euros; Operating return on sales of 6.9 percent; negative effects from product costs and manufacturing disruptions in the third quarter particularly impacted the brand group Core
  • Operating profit before valuation effects, in particular from commodity hedging, at 18.7 billion euros, corresponding to underlying operating return on sales of 8.0 percent, almost level with the prior year period
  • Electrification strategy is progressing, with deliveries of battery electric vehicles (BEV) increasing by 45 percent to 531,500 vehicles in the first nine months; BEV share of total deliveries grew to 7.9 percent in the first nine months
  • Order bank of 1.4 million vehicles in Western Europe at the end of Q3 remains at high level, including around 150,000 BEV
  • Financial outlook for fiscal year 2023 updated; operating result before special items expected to be around the level of the previous year

Press Release Interim Report January - September 2023


Volkswagen Group delivers solid nine-month results in a challenging environment

The specified fuel consumption and emission data are determined in accordance with the measurement procedures prescribed by law. 1 January 2022, the WLTP test cycle completely replaced the NEDC test cycle and therefore no NEDC values are available for new type approved vehicles after that date. This information 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. Due to more realistic testing conditions, fuel consumption and CO2 emissions measured according to WLTP will in many cases be higher than the values measured according to NEDC. As a result, the taxation of vehicles may change accordingly as of 1 September 2018. For further information on the differences between WLTP and NEDC, please visit 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