Volkswagen Group's Profits Dropped 20% in Q1, but It Remains Confident in Hitting 2024 Targets
Volkswagen Group released its financial numbers for Q1 2024 today, following similar trends from other EU-based
Electrek 9:15 pm on May 5, 2024
Volkswagen Group reports a 20% drop in profits for Q1 2024, but remains optimistic about meeting its financial targets. The company saw BEV sales fluctuations across regions and anticipates potential growth despite challenges.
- Q1 2024 Financial Performance: Volkswagen Group's profits dropped by 20%, with varied BEV sales figures globally. Despite regional sales fluctuations, the company maintains confidence in achieving its financial targets for the year.
- Delivery Trends: While overall deliveries increased by 3% YOY, BEV sales fell significantly in Europe and the US. Top-performing regions were China, USA, and Germany.
- BEV Sales Outlook: The company anticipates potential growth despite challenges such as economic fluctuations, increasing competition, and stringent emissions requirements.
- Future Investment Plans: Volkswagen Group expects an investment ratio between EUR 13.5% and 14.5% in 2024 with net cash flow from the Automotive Division ranging from EUR 4.5 to EUR 6.5 billion.
- Liquidity and Financing: The company maintains a solid financing and liquidity policy, with projected net liquidity between EUR 39 billion and EUR 41 billion in the Automotive Division.
https://electrek.co/2024/04/30/volkswagen-groups-profits-dropped-20-q1-remains-confident-in-2024-targets/