Volkswagen Reports Solid 2024 Results, Eyes Growth Despite Challenges

WOLFSBURG, Germany — Volkswagen Group posted a steady financial performance in 2024, reporting €324.7 billion in sales revenue, a slight increase from the previous year, while navigating economic uncertainty and industry transformation, the company announced Tuesday.

“In 2024, Volkswagen Group set a decisive strategic course with innovative products and bold decisions,” CEO Oliver Blume said. “As we accelerate our transformation, our model expansion, market-specific products, and strong partnerships will drive sustainable growth.”

Financial Performance
Volkswagen’s operating result stood at €19.1 billion, down 15% from 2023, with an operating margin of 5.9%. The decline was attributed to higher fixed costs, including €2.6 billion in restructuring expenses. Adjusted for non-operating costs, the underlying operating result was €21.7 billion, with a margin of 6.7%.

The company sold 9.0 million vehicles worldwide, a 3.5% decrease from the previous year. While sales in South America grew, they could not offset declines in China. North American and European sales remained stable.

Volkswagen saw strong demand for electric vehicles, with order intake for all-electric models in Western Europe surging 88% in 2024.

Investment and Outlook
Looking ahead, Volkswagen expects up to a 5% increase in sales revenue for 2025 and anticipates an operating return on sales between 5.5% and 6.5%. The company plans an investment ratio of 12-13% in 2025, focusing on electric mobility, software, and regional expansion, particularly in the U.S.

“In a challenging competitive environment, we achieved a solid financial performance,” CFO & COO Arno Antlitz said. “Our priority is offering attractive vehicles while reducing costs and increasing profitability.”

Challenges remain, including political uncertainty, trade restrictions, volatile commodity and energy prices, and evolving emissions regulations. Volkswagen emphasized its commitment to maintaining financial stability while pushing forward with electrification and autonomous driving initiatives.