Divisions

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Brands and Business Fields

In fiscal year 2022, the Volkswagen Group found itself confronted by the challenges of a difficult market environment worldwide, the limited availability of parts, and disruption in the logistics chain.

GROUP STRUCTURE

The Volkswagen Group consists of two divisions: the Automotive Division and the Financial Services Division. The Automotive Division comprises the Passenger Cars, Commercial Vehicles and Power Engineering business areas. Activities of the Automotive Division comprise in particular the development of vehicles, engines and vehicle software, and the production and sale of passenger cars, light commercial vehicles, trucks, buses and motorcycles, as well as businesses for genuine parts, large-bore diesel engines, turbomachinery and propulsion components. Mobility solutions are gradually being added to the range. The Ducati brand is allocated to the Audi brand and thus to the Passenger Cars Business Area. Navistar has supplemented the brands in the Commercial Vehicles Business Area since July 1, 2021. The Financial Services Division’s activities comprise dealer and customer financing, vehicle leasing, direct banking and insurance activities, fleet management and mobility services. At the beginning of 2022, we aligned the reporting structure by brand and business field with the Group’s current strategy and management structure.

In this chapter, we present the key volume and financial data relating to the Group brands and to Volkswagen Financial Services. In light of the considerable importance of the development of business in the world’s largest single market for the Volkswagen Group, we also report on business developments and the results of our activities in China in this chapter.

VOLKSWAGEN GROUP REPORTING STRUCTURE

AUTOMOTIVE
DIVISION

 

FINANCIAL SERVICES
DIVISION

 

 

 

 

 

 

 

Passenger Cars Business Area
Volkswagen Passenger Cars
ŠKODA
SEAT
Volkswagen Commercial Vehicles
Audi
Porsche Automotive
CARIAD
Others

 

Commercial Vehicles Business Area
TRATON Commercial Vehicles

 

Power Engineering Business Area
MAN Energy Solutions

 

Dealer and customer financing
Leasing
Direct bank
Insurance
Fleet management
Mobility services

The production figures and deliveries to customers are differentiated by vehicle brands and their models that carry the corresponding brand logo. Unit sales figures contain vehicles sold by respective brand companies, including models of other Group brands. In some cases, there are marked differences between delivery figures and unit sales as a result of our business development in China.

KEY FIGURES BY MARKET

The business of the Volkswagen Group and its brands was affected in 2022 by the difficult market environment worldwide, the limited availability of parts, and disruption in the logistics chain. The Volkswagen Group generated an operating result before special items of €22.5 (20.0) billion in the reporting period. Special items resulting from the diesel issue weighed on operating result in the amount of €−0.4 (−0.8) billion.

The Volkswagen Group’s unit sales in the reporting year stood at 8.5 (8.6) million vehicles. Sales revenue increased by 11.6% to €279.2 billion. Improved price positioning and mix and exchange rate effects had a positive impact.

In the Europe/Other markets region, unit sales decreased by 6.2% year-on-year to 3.5 million vehicles. However, positive mix effects and improved price positioning helped to lift sales revenue to €154.5 (145.6) billion.

Unit sales in the North American markets increased by 7.8% to 868 thousand vehicles in 2022. Sales revenue increased to €60.1 (45.3) billion, due mainly to the inclusion of Navistar as of July 1, 2021, as well as exchange rate effects.

On markets in the South America region, we sold 487 thousand vehicles in 2022, a decrease of 3.2% compared with 2021. Sales revenue increased by 40.2% to €15.5 billion due to mix and exchange rate effects.

In the Asia-Pacific region, the Volkswagen Group’s unit sales – including the Chinese joint ventures – increased to 3.6 (3.5) million vehicles in 2022. Sales revenue improved to €51.4 (48.7) billion. Negative effects resulting from lower volumes – not including the Chinese Joint Ventures – were offset by positive exchange rate effects. This figure does not include the sales revenue of our equity-accounted Chinese joint ventures.

Hedging transactions relating to sales revenue in foreign currency had a negative impact of €−2.3 (−0.4) billion on the sales revenue of the Volkswagen Group in the reporting year.

KEY FIGURES BY BRAND AND BUSINESS FIELD

 

 

VEHICLE SALES

 

SALES REVENUE

 

OPERATING RESULT

Thousand vehicles/€ million

 

2022

 

2021

 

2022

 

2021

 

2022

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

Volume brand group

 

4,069

 

4,133

 

113,762

 

101,858

 

4,045

 

3,488

Volkswagen Passenger Cars

 

2,594

 

2,719

 

73,773

 

67,856

 

2,647

 

2,160

ŠKODA

 

863

 

784

 

21,026

 

17,743

 

628

 

1,083

SEAT

 

468

 

494

 

10,941

 

9,614

 

33

 

−233

Volkswagen Commercial Vehicles

 

340

 

326

 

11,455

 

9,909

 

529

 

73

Tech. Components

 

 

 

17,966

 

16,386

 

130

 

329

Consolidation

 

−195

 

−190

 

−21,399

 

−19,650

 

78

 

76

Audi (Premium brand group)1

 

1,070

 

1,024

 

61,753

 

55,914

 

7,622

 

5,936

Porsche Automotive (Sport & Luxury brand group)2

 

314

 

297

 

34,591

 

30,289

 

6,423

 

5,006

TRATON Commercial Vehicles3

 

306

 

273

 

39,516

 

30,092

 

1,583

 

161

Equity-accounted companies in China4

 

3,122

 

3,042

 

 

 

 

MAN Energy Solutions

 

 

 

3,565

 

3,278

 

284

 

179

CARIAD

 

 

 

796

 

518

 

−2,068

 

−1,327

Volkswagen Financial Services

 

 

 

44,155

 

41,662

 

5,602

 

5,672

Other5

 

−400

 

−195

 

−18,907

 

−13,410

 

−966

 

913

Volkswagen Group before special items

 

 

 

 

 

22,523

 

20,026

Special items

 

 

 

 

 

−399

 

−751

Volkswagen Group

 

8,481

 

8,576

 

279,232

 

250,200

 

22,124

 

19,275

Automotive Division6

 

8,481

 

8,576

 

232,385

 

206,237

 

16,468

 

13,230

of which: Passenger Cars Business Area

 

8,175

 

8,303

 

189,304

 

172,868

 

14,600

 

13,051

Commercial Vehicles Business Area

 

306

 

273

 

39,516

 

30,092

 

1,588

 

134

Power Engineering Business Area

 

 

 

3,565

 

3,278

 

281

 

45

Financial Services Division

 

 

 

46,847

 

43,963

 

5,656

 

6,045

1

The previous year’s figures were calculated by means of the simple addition of the figures for Bentley.

2

Porsche (including Financial Services): sales revenue €37,630 (33,138) million, operating result before special items €6,770 (5,286) million.

3

Includes Navistar as of  July 1, 2021.

4

The sales revenue and operating result of the equity-accounted companies in China are not included in the consolidated figures; the share of the operating result generated by these companies amounted to €3,280 (3,026) million.

5

In the operating result, mainly intragroup items recognized in profit or loss, in particular from the elimination of intercompany profits; the figure includes depreciation and amortization of identifiable assets as part of purchase price allocation, as well as companies not allocated to the brands.

6

Including allocation of consolidation adjustments between the Automotive and Financial Services divisions.

KEY FIGURES BY MARKET

 

 

VEHICLE SALES

 

SALES REVENUE

Thousand vehicles/€ million

 

2022

 

2021

 

2022

 

2021

 

 

 

 

 

 

 

 

 

Europe/Other Markets

 

3,495

 

3,727

 

154,529

 

145,570

North America

 

868

 

805

 

60,077

 

45,305

South America

 

487

 

503

 

15,476

 

11,039

Asia-Pacific1

 

3,632

 

3,540

 

51,444

 

48,672

Hedges on sales revenue

 

 

 

−2,294

 

−386

Volkswagen Group1

 

8,481

 

8,576

 

279,232

 

250,200

1

The sales revenue of the joint venture companies in China is not included in the figures for the Group and the Asia-Pacific market.