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.

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.