On March 3rd, Volkswagen unveiled its financial report for the fourth quarter and full year of 2023.
According to the data, in 2023, Volkswagen Group's sales revenue surged by 15% to reach €322.3 billion, with the group's operating profit remaining stable at €22.6 billion (approximately ¥176.29 billion), compared to €22.5 billion in 2022.
In terms of deliveries, the Volkswagen Group delivered approximately 9.24 million vehicles globally, falling short of Toyota, securing the third position in global automotive sales. Toyota, in 2023, sold a total of 11.2 million vehicles worldwide.
Regionally, China continues to be Volkswagen's largest single market, albeit facing the risk of declining sales growth. The Chinese market only saw a 2% year-on-year growth in 2023, significantly lower than the 18% growth in North America and the 20% growth in Europe.
However, the delivery of Volkswagen's pure electric vehicles (EVs) saw a notable increase in 2023, totaling 771,000 units, marking a 35% year-on-year growth. The proportion of pure electric vehicle sales to the total sales of the Volkswagen Group also rose to 8.3%.
Looking ahead to 2024, Volkswagen Group anticipates a 5% year-on-year growth in sales revenue, with an expected operating return on sales between 7.0% and 7.5%.
Furthermore, Volkswagen Group reiterated its commitment to continue focusing investments on the Chinese market, new products, battery business, as well as platforms for both pure electric and fuel-powered vehicles. The investment ratio for 2024 is projected to reach a high of 13.5% to 14.5%.
