Volkswagen Group: Q1 2024 muted as expected – Outlook confirmed

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Christopher Hauss
Christopher Hauss
Corporate Communications Head of Strategy & Finance Communications
Christoph Oemisch
Christoph Oemisch
Corporate Communications Spokesperson Finance and Sales

Wolfsburg. The Volkswagen Group expects the sales revenue to exceed the previous year’s figure by up to 5 percent. The operating return on sales is expected to range between 7.0 percent and 7.5 percent.

Picture in front of a stone wall of the CFO and COO of the Volkswagen Group
“As expected, our first quarter results show a slow start to the year. We remain confident of achieving our financial targets for 2024. A strong March, the solid order bank and the improving order intake in the past months are encouraging and should already have a positive impact in the second quarter. We expect additional momentum over the course of the year from the launch of more than 30 new models across all brands. At the same time the effects our efficiency programs will gradually unfold as the year progresses. In this context, it will be particularly important to vigorously counteract the increase in fixed costs and exercise investment discipline.”
Arno Antlitz CFO & COO Volkswagen Group
Picture in front of a stone wall of the CFO and COO of the Volkswagen Group

Key Figures

75.5
billion EUR sales revenue in Q1 2024
slightly below Q1 2023 (EUR 76.2 billion)
4.6
billion EUR Operating Result in Q1 2024
20% below Q1 2023 (EUR 5.7 billion) / Operating Margin of 6.1%
- 3.0
billion EUR net cash flow in the Automotive Division in Q1 2024
(EUR 2.2 billion)
2.1
million vehicle sales in Q1 2024
down by 2% compared to Q1 2023; revenue relevant vehicle sales down by 5% to 1.4 million vehicles
Infographic displaying financial results for the first quarter of 2024, showing sales, revenue, and operating income.
Infographic detailing financial outlook forecasts for 2024, including revenue, operational yield, and net liquidity in the automotive sector.

Outlook 2024 confirmed

Further information on the brand groups

Core

Progressive

Sport Luxury

TRATON Trucks

CARIAD

VW Group Mobility

Key Figures Volkswagen Group

Key Figures by brand groups from January 1 to March 31

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Contacts

Christopher Hauss
Christopher Hauss
Corporate Communications Head of Strategy & Finance Communications
Christoph Oemisch
Christoph Oemisch
Corporate Communications Spokesperson Finance and Sales

Interim report January-March 2024

2024-JPK-Teaser-blanco

On April 30, 2024 the Volkswagen Group published the results for the first quarter of 2024.

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.