Volkswagen Group's Remarkable Growth in 2023

Volkswagen Group’s Remarkable Growth in 2023

In 2023, the Volkswagen Group experienced a significant upswing in its global vehicle deliveries, marking a 12% increase from the previous year, totalling 9.24 million vehicles. This growth was driven primarily by strong performances in Europe and North America. A notable aspect of this success was the substantial rise in the delivery of all-electric vehicles (BEVs), which surged by 34.7% to 771,100 units. This increase in electric vehicle deliveries boosted their share of total deliveries to 8.3%, up from 6.9% in 2022.

Key Highlights of Volkswagen Group’s Performance in 2023

✅ Global Delivery Growth: The Volkswagen Group’s total vehicle deliveries reached 9.24 million, a 12% increase from the previous year, with Europe and North America being the main contributors.

✅ Electric Vehicle Surge: Deliveries of all-electric vehicles jumped by 34.7%, reaching 771,

100 units. This growth significantly outpaced the overall market, indicating a strong shift towards electric mobility.

✅ Market Share Expansion: The Group not only increased its deliveries but also expanded its market share in various regions, including Europe, North America, and South America.

✅ Brand Performance: Almost all brands under the Volkswagen Group umbrella recorded growth. SEAT/CUPRA led in the passenger car segment with a 34.6% increase, while MAN topped the truck segment with a 37.1% rise.

✅ Leadership in Electric Mobility: The Volkswagen ID.4/ID.5 models were particularly successful, contributing to the Group’s rise in the electric vehicle market share to 8.3%.

Insights and Future Outlook

1️⃣  Strategic Transformation: The Volkswagen Group’s focus on electric mobility is a strategic move aligning with global trends towards sustainable transportation. How will this focus shape the Group’s future market positioning?

2️⃣  Brand Diversification: With various brands under its umbrella showing significant growth, the Group’s diversified portfolio seems to be a key strength. What role will brand diversification play in sustaining its market growth?

3️⃣  Upcoming Launches: The Group plans to introduce several new all-electric models in 2024, including the Volkswagen ID.7 Tourer and the Audi Q6 e-tron. How might these new launches impact the Group’s performance in the electric vehicle market?

The Volkswagen Group’s performance in 2023 highlights its successful adaptation to the evolving automotive market, especially in the realm of electric vehicles. The Group’s commitment to electric mobility and its diverse brand portfolio have positioned it well for continued success in the coming years.