Volkswagen Group China Strategy and BEV Outlook
VOLKSWAGEN
Volkswagen Group Q1 - Analysis by Brand and Business Field
GROUP
VEHICLE SALES (`000)
SALES REVENUE (€ m)
OPERATING RESULT (€ m)
OPERATING MARGIN (%)
Q1 2023
Q1 2022
Q1 2023
Q1 2022
Q1 2023
Q1 20221
Q1 2023
Q1 20221
Brand Group Core
Volkswagen Passenger Cars
ŠKODA
SEAT
Volkswagen Commercial Vehicles
Tech. Components
1,193
918
33,163
24,361
1,742
877
5.3
3.6
731
537
20,464
14,879
608
513
3.0
3.4
275
231
6,794
5,101
542
337
8.0
6.6
155
107
3,562
2,404
144
104
73
3,599
2,294
171
46
56
4.0
0.2
4.8
2.0
6,028
3,614
237
-33
3.9
-0.9
Consolidation
-72
-29
-7,284
-3,931
39
Brand Group Progressive (Audi)
323
244
16,883
14,282
1,816
3,535
Brand Group Sport Luxury (Porsche Automotive ) 2
85
66
9,333
7,317
1,727
1,359
CARIAD
168
110
-429
-416
Battery
-72
-6
TRATON Commercial Vehicles
85
68
10,938
8,353
875
331
MAN Energy Solutions
901
761
101
55
9596615
10.8
24.8
18.5
18.6
8.0
11.2
4.0
7.2
At equity accounted companies in China 3
609
765
Volkswagen Financial Services
11,980
10,876
985
1,501
8.2
N
13.8
Other4
-171
-67
-7,168
-3,348
-997
1,222
Volkswagen Group before special items
5,747
8,458
Special Items
-130
Volkswagen Group
2,124
1,995
76,198
62,711
5,747
8,328
7.5
13.3
thereof:
Automotive Division 5
2,124
1,995
63,463
51,210
4,583
6,784
7.2
Of which: Passenger Cars Business Area
Commercial Vehicles Business Area
Power Engineering Business Area
Financial Services Division
2,039
85
1,927
68
51,623
42,096
3,611
6,400
7.0
20
13.2
15.2
10,938
8,353
872
330
8.0
4.0
901
12,736
761
100
54
11.1
7.1
11,502
1,164
1,544
9.1
13.4
1. Previous year adjusted (IFRS 17) 12. Porsche (including Financial Services): sales revenue € 10,097 (8,043) million, operating result € 1,840 (1,467) 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 € 625 (824) million 14. 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 I 5. Including allocation of consolidation adjustments between the Automotive and Financial Services divisions.
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