Volkswagen Group operating result increases and recovery in China accelerates

Christopher Hauss
Christopher Hauss
Corporate Communications Head of Strategy & Finance Communications
Christoph Oemisch
Christoph Oemisch
Corporate Communications Spokesperson, Finance and Sales
Volkswagen Group
  • Operating result before special items Q1-Q3 of EUR 17.5bn reflecting an operating margin of 8.6%     
  • Volkswagen Group confirms margin guidance of 7-8.5% at the upper end of the range          
  • Overall Q3 revenues up year-on-year from EUR 56.9 bn to 70.7 bn vs a supply constrained Q3 2021 
  • Q3 operating result up year-on-year to EUR 4.3 bn. Q3 margin of 6% burdened by non-recurring items of EUR 1.6bn         
  • Accelerating recovery in China, with 27% increase in deliveries in Q3          
  • BEV ramp-up progressing, with 22% more deliveries in Q3 and accelerating BEV share of 6.8%; start of production of the ID.4 in the US          
  • Successful IPO of Porsche, with proceeds being used to accelerate the transformation and return to shareholders via special dividend          
  • Oliver Blume, Volkswagen CEO: “In the third quarter, Volkswagen made some significant strides towards generating greater sustainable value creation for shareholders. I’m pleased to see that we made progress in China and the U.S., and took another step toward further securing the supply of raw materials to deliver on our ambitious EV ramp-up plans.” 
  • Arno Antlitz, Volkswagen CFO and COO: “We have once again demonstrated Volkswagen’s financial resilience in a challenging environment. This quarter was another step towards meeting our ambitious full year targets.”

Wolfsburg. Volkswagen Group posted solid financial results in the third quarter in a difficult global environment. Total vehicle deliveries to customers were up in Q3, with overall operating result increasing from EUR 2.6bn in a supply-constricted Q3 2021 to EUR 4.3bn. The Group’s financial performance in Q3 demonstrates how measures to strengthen supply chains have successfully helped to mitigate a challenging global landscape.

Key Figures

Key figures by brand and business field from January 1 to September 30

Interim Report January - September 2022
Leading the Transformation - Investor, Analyst and Media Call Q3 2022
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