Volkswagen Group posts solid H1 results and strengthens strategic position in China

• Strong underlying operating profit of EUR 13.9 billion, with corresponding margin at 8.9 percent; operating profit of EUR 11.3 billion, with operating margin at 7.3 percent
• Revenue growth of 18 percent to EUR 156.3 billion, driven by significantly higher vehicle sales in Europe and North America and continued favourable mix and pricing
• 4.4 million vehicles delivered in H1, up 13 percent year-on-year, driven by strong performance without China (+21 percent)
• All-electric vehicle (BEV) deliveries rose around 50 percent in H1 2023, representing a 7.4 percent share of total deliveries; Group underscores European market leadership in BEV segment
• Order bank of 1.65 million vehicles in Western Europe at the end of H1, including more than 200,000 BEVs, demonstrating stable customer demand
• Volkswagen Group strengthens strategic position in China and targets new market and customer segments with recently announced partnerships
• Financial outlook FY2023 confirmed; outlook for deliveries in 2023 slightly adapted from around 9.5 million to 9 to 9.5 million

Full press release