Recently, Volkswagen released its fourth quarter and full-year financial reports for 2023. The data shows,In 2023, Volkswagen Group's sales revenue increased by 15% to 322.3 billion euros, and the group's operating profit remained at 22.6 billion euros (approximately RMB 176.29 billion) (2022: 22.5 billion euros).
In terms of delivery, the Volkswagen Group has delivered a total of approximately 9.24 million vehicles, ranking third in global car sales behind Toyota, whose global sales in 2023 will be 11.2 million vehicles.
Looking at it by region,The Chinese market is still Volkswagen's largest single market, but it faces the danger of declining sales growth.The Chinese market only had a year-on-year growth rate of 2% last year, which was far lower than the 18% year-on-year growth in the North American market and the 20% year-on-year growth in the European market.
However, the delivery volume of Volkswagen's pure electric vehicles will increase significantly in 2023, with a total of 771,000 vehicles sold, a year-on-year increase of 35%. The sales of pure electric models also increased to 8.3% of the total sales of the Volkswagen Group.
Looking forward to 2024, the Volkswagen Group expects sales revenue in 2024 to increase by 5% year-on-year, and operating return on sales is expected to be between 7.0% and 7.5%;
In addition, the Volkswagen Group stated that it will continue to focus on investing in the Chinese market, new products, battery business, and platforms for pure electric vehicles and fuel models. The investment ratio is expected to reach a high value of 13.5% to 14.5% in 2024;