Volkswagen AG

Latest Results (27.10.2025):

Volkswagen AG has released its half-yearly financial report for January to June 2025, showing a slight increase in vehicle deliveries and a significant rise in all-electric vehicle sales. However, the company faced a decrease in operating results and earnings after tax compared to the previous year.

Vehicle Deliveries

Deliveries to Volkswagen Group customers, including Chinese joint ventures, increased by 1.3% year-on-year to 4.4 million vehicles in the first half of 2025. Growth was observed in Europe and South America, while North America and Asia-Pacific experienced a downward trend.

Electric Vehicles

Deliveries of all-electric vehicles surged by 46.7%, reaching 465 thousand units compared to 317 thousand units in the same period last year. The share of electric vehicles in total group deliveries rose to 10.6% from 7.3%.

Financial Performance

The group’s sales revenue remained stable at €158.4 billion, slightly down from €158.8 billion the previous year. The operating result declined to €6.7 billion from €10.0 billion, primarily due to higher import tariffs, regulatory provisions, exchange rate effects, and restructuring expenses.

Earnings and Cash Flow

Earnings before tax decreased to €6.4 billion from €10.1 billion, and earnings after tax fell by €2.8 billion to €4.5 billion. The Automotive Division reported a net cash flow of –€1.4 billion, with an investment ratio of 11.4%, slightly lower than the previous year. Net liquidity in the Automotive Division remained solid at €28.4 billion.

Management Changes

Volkswagen AG announced several changes to its Board of Management and Supervisory Board, including the resignation of Gunnar Kilian and Jörg Hofmann, and the appointment of new members such as Christiane Benner and Mohammed Al-Sowaidi.