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Introduction
Volkswagen Statistics: Volkswagen is one of the world’s leading automobile manufacturers headquartered in Wolfsburg, Germany. Its name is a portmanteau of two German words, Volk and Wagen, which translates into “people’s car.” The company has become a symbol of Germany’s economic miracle and operates in different plants all over the globe. They currently own 12 different car brands, including Audi, Porsche, Volkswagen Passenger Cars, Volkswagen Commercial Vehicles, and MAN in Germany; SEAT in Spain; Bentley in the United Kingdom; Skoda in the Czech Republic; Bugatti in France; Scania in Sweden; and Lamborghini and Ducati in Italy.
Currently, they are working to offer ecological solutions for mobility for future generations, with a target to become completely Carbon neutral by 2050. In this insight, we will throw light on Volkswagen statistics for a holistic understanding.
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- Volkswagen Group expects sales revenue to increase by up to 5%, reaching EUR 322.3 billion (USD 353.5 billion) in 2023.
- Operating profit before special items remained stable at EUR 22.6 billion (USD 24.8 billion), with an operating return on sales of about 7%.
- In Q1 2024, Volkswagen sold approximately 2.1 million vehicles, a slight decrease of 2% from Q1 2023.
- Battery electric vehicle (BEV) deliveries increased by 35% in 2023, totaling 771,000 units.
- Volkswagen operates 121 production plants worldwide: 63 in Europe, 34 in Asia, 10 in North America, 10 in South America, and 4 in Africa.
- The company employs about 307,000 people globally.
- The Automotive Division’s net cash flow more than doubled to EUR 10.7 billion (USD 11.7 billion) in 2023.
- As of Q1 2024, Volkswagen’s order bank in Western Europe remains stable at 1.1 million vehicles, with significant orders for new models like the VW Tiguan and VW Passat.
- Volkswagen made a significant contribution to car safety by being the first car manufacturer to introduce seatbelts in cars in 1975 with the Volkswagen Golf.
- In 2023, Volkswagen holds 6% of the global automotive market.
- As of June 2024, Volkswagen is valued at USD 7 billion.
- Volkswagen’s revenue growth reached EUR 322.3 billion (USD 353.5 billion) in FY 2023.
- Asia Pacific is Volkswagen’s largest market, with consumers in China and Hong Kong purchasing Volkswagen cars ten times more than American cars.
- The Volkswagen Passenger Cars division contributed 26.8% to the company’s revenue in 2023.
Volkswagen Revenue Worldwide
Unit Sales
(Reference: Statista.com)
- Looking at the global Volkswagen market, we will see that overall sales have increased progressively. They reached a figure of around 300 billion euros in 2023, which showcases Volkswagen’s holistic growth in the global market.
(Reference: Statista.com)
- As per the graph based on Volkswagen Statistics, the Volkswagen vehicles delivery reached a peak of 10.98 million units in 2019
- Since then, the sales have reduced to 9.31 million units in 2020, and they are yet to reach the pre-numbers
- In 2023, the vehicles sold were 9.34 million units.
(Source: Statista.com)
- If we look at Volkswagen’s Unit sales by segment, medium cars consistently have the largest share. This trend is expected to continue. Also, the number of vehicles expected to be sold by the end of 2028 is 4990.4k units.
(Reference: statista.com)
- According to Volkswagen statistics, it recorded revenue of 322 billion euros.
- It is projected that Volkswagen will reach a revenue of $127 Billion by the end of 2024.
- Revenue is expected to have an annual growth rate of -0.18%, and the projected volume would be $126 billion by 2028.
- Volkswagen Statistics projects unit sales to react around 5000k by 2028.
- China is expected to be the region from where the most revenue will be generated ($50 billion by 2024).
- As per the graph, in 2023, there were 771,100 electric vehicles delivered in 2023 in comparison to 572,400 in 2022, indicating a 35% increase.
Volkswagen Car Sales Europe
- Revenue is expected to reach $39 billion by 2024.
- Unit sales are expected to reach $36 billion by 2024.
- Volkswagen’s expected sales are expected to be around 1,512.4 thousand by 2025.
- Medium cars are expected to remain the most dominant segment in Europe.
(Source: Statista.com)
- According to the European Volkswagen chart related to European sales, the overall revenue is expected to peak at 1512.4k vehicles by the end of 2024. After that, it will witness a decline. By 2028, it will decline to 1334.7k vehicles.
Volkswagen Car Sales Asia
(Source: Statista.com)
- Revenue from Volkswagen in Asia is expected to reach around $54000 million in 2024
- There is expected to have an annual CAGR of 0.87% that would result in a projected market volume of $55000 million by 2028
- Most revenue is expected to be generated from China ($50 billion in 2024)
- Similar to Europe, large cars are expected to remain the largest segment, with Asia followed by large vehicles.
Volkswagen Car Sales America
(Source: Statista.com)
- The revenue is projected to reduce to 276.9k by 2028
- SUVs are expected to remain the significant share of revenue source
- Since 2014, the overall share of medium cars has been reducing, and by 2028, it is still expected to remain the 2nd most popular segment after SUVs
Volkswagen Company Analysis 2024 and Beyond
(Reference: statista.com)
- In 2023, Volkswagen reported a significant revenue of $279 billion US dollars, marking a 4% increase from the previous year. The company’s global market share in 2023 stood at 7.6%, reflecting its strong presence in the automotive industry.
- Volkswagen aims to continue its growth trajectory in 2024. The company has set a revenue target of $290 billion US dollars, anticipating a 4% increase compared to 2023. Volkswagen’s market share is expected to rise slightly to 7.8% in 2024, driven by new product launches and strategic market expansions.
- Volkswagen’s sales data for 2023 showed a total of 8.3 million vehicles sold worldwide. This number is projected to increase to 8.5 million cars in 2024, reflecting a growth rate of approximately 2.4%. Volkswagen’s investment in electric vehicles (EVs) and commitment to sustainable development support this growth.
- In 2023, Volkswagen’s electric vehicle sales reached 850,000 units, accounting for about 10.2% of its total vehicle sales. For 2024, the company aims to increase its EV sales to 1 million units, representing approximately 11.8% of its projected total sales. This increase is part of Volkswagen’s broader strategy to transition to greener technologies and reduce carbon emissions.
- The company’s research and development (R&D) expenditure in 2023 was $17 billion US dollars, which constituted about 6.1% of its total revenue. For 2024, Volkswagen has allocated $18 billion US dollars for R&D, maintaining the same percentage of its projected revenue. This consistent investment underscores Volkswagen’s focus on innovation and the development of new technologies.
- Volkswagen’s regional market performance in 2023 highlighted its stronghold in Europe, where it held a market share of 11.5%. In 2024, the company aims to increase this share to 11.7%, bolstered by new model launches and enhanced marketing efforts. In North America, Volkswagen’s market share was 4.2% in 2023, with plans to grow it to 4.4% in 2024.
- Overall, Volkswagen’s financial and market strategies for 2024 reflect a continued emphasis on growth, innovation, and sustainability. The company’s commitment to increasing its electric vehicle offerings and maintaining substantial R&D investments positions it well for future success.
Conclusion
Based on Volkswagen’s statistics, it can be said that it continues to remain a strong force in the global automotive industry, with significant market revenue and presence. Along with the significant revenue and market presence, the sustainable goals are also evident, indicating the continuous growth of the businesses.
In conclusion, Volkswagen’s statistics indicate that the company emphasizes continuous research and development to position itself for continued success in this rapidly evolving business landscape.
Saisuman Revankar
Saisuman is a talented content writer with a keen interest in mobile tech, new gadgets, law, and science. She writes articles for websites and newsletters, conducting thorough research for medical professionals. Fluent in five languages, her love for reading and languages led her to a writing career.
With a Master’s in Business Administration focusing on Human Resources, Saisuman has worked in HR and with a French international company. In her free time, she enjoys traveling and singing classical songs.
At Coolest Gadgets, Saisuman reviews gadgets and analyzes their statistics, making complex information easy for readers to understand.
