Volkswagen Group China Strategy and BEV Outlook
VOLKSWAGEN
Volkswagen Group H1 - Analysis by Brand and Business Field
GROUP
VEHICLE SALES (`000)
SALES REVENUE (€ m)
OPERATING RESULT (€ m)
H1 2023
H1 2022
H1 2023
H1 2022
H1 2023
H1 20221
OPERATING MARGIN (%)
H1 2023
H1 2022 1
Brand Group Core
Volkswagen Passenger Cars
ŠKODA
SEAT
Tech. Components
2,450
1,956
68,764
53,010
3,773
2,646
5.5
5.0
1,523
1,218
42,959
33,322
1,641
1,860
3.8
5.6
545
447
13,748
10,223
911
676
6.6
6.6
317
236
7,411
5,377
371
-97
5.0
-1.8
Volkswagen Commercial Vehicles
212
153
7,418
5,046
448
187
6.0
3.7
12,092
8,147
438
-28
3.6
-0.3
Consolidation
-148
-97
-14,863
-9,105
-37
50
Brand Group Progressive (Audi)
655
513
34,169
29,869
3,417
4,965
10.0
16.6
Brand Group Sport Luxury (Porsche Automotive ) 2
171
149
18,892
16,425
3,653
3,261
19.3
19.9
CARIAD
329
249
-1,088
-978
Battery
-181
-14
TRATON Commercial Vehicles
168
138
22,331
17,613
1,798
617
8.1
3.5
MAN Energy Solutions
1,875
1,632
208
131
11.1
8.0
At equity accounted companies in China 3
1,352
1431
Volkswagen Financial Services
24,112
21,866
1,760
2,975
7.3
13.6
Other4
-349
-180
-14,215
-8,454
-1,993
-425
Volkswagen Group before special items
11,347
13,180
Special Items
-360
Volkswagen Group
4,448
4,006
156,257
132,211
11,347
12,820
7.3
9.7
thereof:
Automotive Division 5
4,448
4,006
130,569
109,066
9,120
9,726
7.0
8.9
Of which: Passenger Cars Business Area
Commercial Vehicles Business Area
Power Engineering Business Area
Financial Services Division
4,279
168
3,868
106,362
89,820
7,118
8,979
6.7
10.0
138
22,331
17,613
1,796
618
8.0
3.5
1,875
1,632
206
129
11.0
7.9
25,689
23,146
2,226
3,094
8.7
13.4
36250 16N90594
1. Previous year adjusted (IFRS 17) 12. Porsche (including Financial Services): sales revenue € 20,626 (17,922) million, operating result € 3,852 (3,480) million 13. The sales revenue and operating result of the equity-accounted companies in China are not included in the consolidated figures; the share of the operating result
generated by these companies amounted to € 1,152 (1,402) million I 4. In the operating result, mainly intragroup items recognized in profit or loss, in particular from the elimination of intercompany profits; the figure includes depreciation and amortization of identifiable assets as part of purchase price allocation, as well as
companies not allocated to the brands | 5. Including allocation of consolidation adjustments between the Automotive and Financial Services divisions.
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