The Volkswagen Group’s profits grew throughout 2021, despite the automotive giant selling 2.3 million vehicles less than in 2019…

Rising Profits for Volkswagen

The Volkswagen Group, which owns the likes of Seat, Skoda, Audi and Volkswagen, sold 2.3 million fewer vehicles in 2021 than it did in 2019. Despite this significant drop, it actually managed to increase its profits over the course of the year; impressively by 12.3%. This means the automotive giant raked in  €250.9 billion (£209.4bn) in total. Operating profits actually doubled to €20 billion (£16.4bn). For further perspective, earnings before tax were up by a whopping 72.5%.

Much of the Group’s success has been attributed to the performance of its EVs and its overall electrification strategy. Sales of the EV models, such as the Volkswagen ID.3, Porsche Taycan and Audi E-tron, nearly doubled in 2021 – reaching 452,900 units. Volkswagen Group has stated that it expects these sales to increase further, if the global economy stabilises. 

‘Mitigate the Impact of Crises’ 

Arno Antlitz, financial officer for the Volkswagen Group, has suggested that the firm has gotten better at responding to disruption. He explained, “over the past two years, we have learned to better mitigate the impact of crises on our company. I am confident that we will make the best possible use of these experiences to stay on track in these difficult times”. 

He continued, “in 2021, we enhanced our overall robustness by achieving better margins, reducing overhead costs, lowering our break-even and keeping discipline. Our rewards were solid results and cash flows. At the same time, we made no compromise when it comes to future investments and moved ahead in becoming a sustainable, software-driven mobility provider”.

Transport for London’s Drivers Caught Out By New Speed Limits – https://autoservefleet.co.uk/latest-news/transport-for-london-s-drivers-caught-out-by-new-speed-limits/

Government Petition To Reduce Fuel Duty Gains Support – https://autoserve.co.uk/motoring-news/government-petition-to-reduce-fuel-duty-gains-support/

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