Volkswagen's 2024 Q2 Update Revenue, Profits, Deliveries and Outlook

TapTechNews August 1st news, Volkswagen today released an announcement that its revenue in the second quarter of 2024 was 83.34 billion euros (TapTechNews note: currently about 651.738 billion Chinese yuan), with a year-on-year increase of 4.1%, and the estimate was 81.92 billion euros.

The operating profit of Volkswagen in the second quarter was 5.46 billion euros (currently about 42.698 billion Chinese yuan), a year-on-year decrease of 2.4%, and the estimate was 5.17 billion euros; the operating cash flow of the automotive department was 8.4 billion euros (currently about 65.69 billion Chinese yuan), a year-on-year increase of 36%, and the estimate was 7.41 billion euros.

In the second quarter of 2024, Volkswagen globally delivered 2.244 million vehicles, a year-on-year decrease of 3.8%; in the first half of the year, it delivered 4.348 million vehicles, a year-on-year decrease of 0.6%.

Volkswagen mentioned that the growth in North America (+8%) and South America (+15%) almost offset the decline in other regions, especially the decline in the Chinese market in the second quarter.

Looking forward to the entire 2024, the Volkswagen Group expects that the full-year sales revenue in 2024 will increase by 5% compared to the previous year. The operating sales return rate of the Volkswagen Group and the passenger car business field may be between 6.5% and 7%.