Volkswagen ID.4 drives to delivery
In the first half of the year, the group delivered 4.4 million vehicles worldwide.
(Photo: dpa)
The Wolfburg-based car group Volkswagen has cut its sales targets for the full year in view of the meager economic environment. In 2023, between nine and 9.5 million vehicles are to be delivered to customers, as the Dax group announced on Thursday.
The Wolfsburg had previously assumed around 9.5 million pieces, after 8.3 million in the previous year. Experts had already doubted whether VW can still achieve the goal.
In the first half of the year, the Group delivered 4.4 million vehicles worldwide, an increase of almost 13 percent. In terms of annual sales, however, VW remains on course to achieve the target of ten to 15 percent plus and thus 307 to 321 billion euros, it said.
The forecast for the operating profit margin adjusted for special items also remains untouched at 7.5 to 8.5 percent, also because the savings and earnings program for the mass brands should show an effect in the second half of the year.
In the past second quarter, VW achieved an increase in sales of a good 15 percent to 80.1 billion euros. Adjusted operating profit of 5.6 billion euros was almost 19 percent higher than a year ago, but was below the average estimate from experts.
As in the first quarter, the valuation of commodity hedging transactions had a negative impact, this time amounting to 1.2 billion euros. Earnings after taxes fell by a good 3 percent to 3.79 billion euros.
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