On April 30th, media reports revealed that Volkswagen Group has released its first-quarter financial report.
The data indicates that in the first quarter of 2024, the revenue amounted to €75.5 billion, a 1% year-on-year decrease, with an operating profit of €4.6 billion, marking a 20% decline compared to the previous year.
Sales figures show that in the first quarter of this year, global sales surpassed 2.1 million units, a 2% decrease year-on-year. Sales in the Asia-Pacific and South American regions grew by 2% and 19% respectively, while Europe and North America experienced declines of 5% and 10% each.
Analysts suggest that the profit decline exceeded expectations, primarily due to the drop in car sales and the costs associated with introducing new car models, which have weighed on profitability.
In the passenger car sector, Volkswagen Group accumulated sales of over 2 million units in the first quarter, a 3.4% year-on-year increase. Among these, sales of traditional fuel cars reached 1.97 million units, up by 4%, while sales of pure electric cars stood at 136,400 units, a decrease of approximately 3% compared to the previous year.
In the domestic market, Volkswagen Group's sales in the first quarter reached 693,000 units, a 7.7% year-on-year increase, with sales of pure electric models reaching 41,000 units, marking a significant growth of 91.2%.
Meanwhile, in the European home market, sales totaled 906,700 units, a marginal 0.3% decrease year-on-year, with sales of pure electric cars amounting to 74,400 units, down by 2% compared to the previous year.
