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Although it remains profitable, the Volkswagen group – which includes Audi, Porsche, Bugatti and Bentley – has revealed declining results for the first half of 2022. The German manufacturer’s premium division, on the other hand, performed particularly well.
The Volkswagen group’s sales volume fell by 14% worldwide to 4 million units compared with 4.66 million a year earlier, as did vehicle deliveries, which fell by 22.2% between January and June, to 3.87 million vehicles compared with 4.98 million in 2021.
However, the group’s turnover increased by 2% to 132.3 billion euros, while its net profit soared by 25.8% to 10.6 billion. Moreover, its operating margin increased to 10% from 8.8% at the end of June 2021.
Arno Antlitz, Chief Financial Officer of the Volkswagen Group, commented that “in a particularly difficult global environment, Volkswagen is showing remarkable financial strength”. Arno Antlitz welcomes the “relevance” of the product offering and the “dynamism” of sales in the premium segment. He also states that “the group’s high-volume brands have demonstrated their ability to deliver good results in a favourable environment”.
Indeed, the premium division, which includes Audi and Lamborghini, significantly improved its operating results. Bentley also doubled its profit in the first half of the year, posting an operating profit for the first six months of the year of 398 million euros, up from 178 million euros a year earlier.
Given these results, Volkswagen is confident for the rest of the year and confirms its annual targets. However, the group expresses uncertainty about the energy supply in Europe, disrupted by the war in Ukraine and the consequences of the Covid-19 pandemic.
Read also > Mercedes-Benz raises annual targets on strong second quarter results
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Although it remains profitable, the Volkswagen group – which includes Audi, Porsche, Bugatti and Bentley – has revealed declining results for the first half of 2022. The German manufacturer’s premium division, on the other hand, performed particularly well.
The Volkswagen group’s sales volume fell by 14% worldwide to 4 million units compared with 4.66 million a year earlier, as did vehicle deliveries, which fell by 22.2% between January and June, to 3.87 million vehicles compared with 4.98 million in 2021.
However, the group’s turnover increased by 2% to 132.3 billion euros, while its net profit soared by 25.8% to 10.6 billion. Moreover, its operating margin increased to 10% from 8.8% at the end of June 2021.
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Although it remains profitable, the Volkswagen group – which includes Audi, Porsche, Bugatti and Bentley – has revealed declining results for the first half of 2022. The German manufacturer’s premium division, on the other hand, performed particularly well.
The Volkswagen group’s sales volume fell by 14% worldwide to 4 million units compared with 4.66 million a year earlier, as did vehicle deliveries, which fell by 22.2% between January and June, to 3.87 million vehicles compared with 4.98 million in 2021.
However, the group’s turnover increased by 2% to 132.3 billion euros, while its net profit soared by 25.8% to 10.6 billion. Moreover, its operating margin increased to 10% from 8.8% at the end of June 2021.
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