Local time on the evening of October 20, Volkswagen announced the preliminary financial data for the third quarter of 2023 and then will publish the complete quarterly data on October 26th.
The data show that in the third quarter, the company’s sales increased by 12% year-on-year to about 78.8 billion euros (currently about RMB 610.7 billion); the first three-quarters of sales increased by about 16% year-on-year to about 235.1 billion euros (currently about RMB 1.82 trillion).
At the same time, Volkswagen updated its outlook for fiscal 2023, with vehicle deliveries expected to remain in the 9-9.5 million-unit range and sales up 10-15% year-on-year, also unchanged from before.
Volkswagen said it has benefited from volume growth in its passenger car business in the July-September period, and now expects operating profit before special items in 2023 to reach the previous year’s level of 22.5 billion euros, with a return on sales of 7.0-7.3%, down from the previous forecast of 7.5%-8.5%.
Some time ago, Volkswagen announced delivery figures for the third quarter / first three quarters of this year. From January to September this year, Volkswagen Group’s global deliveries of pure electric vehicles reached 531,500 units, a year-on-year increase of 45%, and its share in the Group’s total sales increased to 7.9% from 6.1% in the same period last year.
In addition, in the third quarter of this year, the Volkswagen Group delivered 2,343,700 vehicles globally, a year-on-year increase of 7.4%, and global pure electric vehicle sales increased by 40.5% to 209,900 units, and its share in the group’s total sales climbed to 9.0% from 6.8% a year ago.
Volkswagen lowered its annual sales forecast to the current level in late July this year, and Volkswagen CFO Arno Antlitz said the company lowered its sales target from 9.5 million units to 9-9.5 million units because of declining sales in China in the first half of the year.
Antlitz said that VW must start to achieve results in cost reduction and efficiency this year, and that the group has no time to waste in the face of increasingly fierce market competition.
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