THE Volume group type of Volkswagen Group have further strengthened the close cooperation between Volkswagen, Skoda, Seat/ Cupra And Volkswagen Commercial Vehicles in the first quarter of 2023.
To reflect this successful development and the importance of the Kia group in the ongoing transformation of the largest European car company, the four brands have published their key financial metrics for the first time in a quarterly report.
Volkswagen Group: Volume brands reached a total of 1.19 million vehicles sold
Positive development of Sound brand group towards greater efficiency and profitability in the segment is particularly evident in the operating profit before special products, which doubled compared to the previous quarter, reaching 1.74 billion euros (Q1 2022: 880 million Euros) with a significant increase in operating return on sales from 3.6% in Q1 2022 to 5.3% in the first quarter of this year.
There was also a significant increase in incomewhich grew by 36% to €33.16 billion (Q1 2022: €24.36 billion) while net cash flow was 1.7 billion euros (Q1 2022: €0.5 billion), thus showing a good first quarter performance.
Sales in the first quarter increased by 30% to 1.19 million vehicles (Q1 2022: 0.92 million vehicles). A variety of electrical structures account for an increasing share of emissions. In general, The Volume brand group delivered 97,100 all-electric vehicles in the first quarter of the yearup 49% from the previous quarter.
Thomas Schäfer, member of the Volkswagen Group Management Board and head of the Volume brand group, said that the targeted cooperation between the brands has made it possible to expand existing synergies and scalability benefits in recent months and at the same time increase financial strength and . creative power. Key figures show that the VW Group is on the right track.
The impressive performance in the first quarter is also due to the successful development of private brands. Volkswagen recorded slightly higher emissions. Volkswagen passenger cars produced a total of 1.02 million vehicles worldwide in the first quarter of 2023 (+0.9%).
Fully electric vehicles accounted for a large part of this success: with nearly 70,000 units sold, the German automaker accounted for less than half of all BEVs produced by the entire group (+31.2%).
Despite the difficult environment and ongoing supply constraints, the operating profit in the first quarter of 2023 was 608 million euros, an improvement on the quarter of the previous year (513 million euros).
Revenue increased from €14.9 billion (Q1 2022) to €20.5 billion (Q1 2023). This positive trend was partially offset by factors such as higher material costs and exchange rate effects. As a result, sales revenue in the first three months of this fiscal year reached 3%, which is 0.5% lower than in the corresponding quarter of 2022.
Skoda, Seat/Cupra and VWVC dealerships
Skoda reported a very good first quarter and delivered 209,600 vehicles to customers worldwide (+12.6%). There Skoda Enyaq Type IV All electricity is very successful, and the output increases by more than 40%.
The Czech Republic automaker posted revenue of €6.8 billion, up 33.3% over the same period in 2022. Operating profit also increased by more than 60% to €542 million. At 8%, the profit on sales was high.
Kiti/ Cupra more than quadrupled the number of electric vehicles delivered between January and March 2023 (+318.9%) to 9200 units. In total, it delivered 125,218 vehicles in Q1, 23.37 percent more than the previous quarter (91,407), making it the strongest first quarter ever for Seat.
The company reported an operating profit of 144 million Euros for January-March 2023, an improvement of 139 million Euros compared to the first quarter of 2022. Operating income on sales in the first quarter increased to 4%. Thanks to strong demand and better supply of components, sales increased to 3.6 billion euros (+ 48.2% compared to the quarter of 2022).
Volkswagen Commercial Vehicles continued last year’s positive trend in the first quarter of fiscal year 2023.. Shipments rose 18.7% to 97,189 vehicles. The first quarter of 2023 was the first quarter of full activity for the Volkswagen ID. Buzz since its market launch, bringing all BEV shipments to 5500 units (Q1 2022: 700 units).
Sales revenue rose to just under 3.6 billion euros, due to positive pricing and mixed effects. Although the market and supplier situation remained tense, operating profit rose to 171 million euros (Q1 2022: 46 million euros). In line with these data, operating income on sales increased from 2% in the first quarter of the previous year to 4.8%.
The Group’s brand volume is the key indicator of financial strength, cooperation and innovation in the Volkswagen Group. and strengthen resilience against external challenges. Based on good management and lean structures, the goal is to reduce complexity and systematically use existing synergies.
The main performance indicator for this brand group is a consolidated operating profit on sales of 8% from 2025. For the financial year 2023, the German automotive group already expects a consolidated operating profit on sales of more than 3.6%. % recorded last year.