Tweet
Volkswagen making good headway with transformation

Volkswagen making good headway with transformation

19.12.2019: €19 billion for future technologies through 2024, of which €11 billion for e-mobility Model and electric offensive in 2020: 34 new models in total

€19 billion for future technologies through 2024, of which €11 billion for e-mobility 

 
Model and electric offensive in 2020: 34 new models in total 

 
Newly-established Car.Software organization starts operating on January 1, 2020 

 
“Transform2025+” strategy gaining foothold 

 
Financial metrics improve in 2019 as world market shrinks




The Volkswagen brand will be launching 34 new models worldwide next year, including twelve SUVs and eight electric or hybrid vehicles. Volkswagen COO Ralf Brandstätter commented: “We are at the beginning of a new era. We mean business with e-mobility. The brand will be investing €19 billion in future technologies through 2024, €11 billion alone in the further development of e-mobility.



And Volkswagen starts the biggest electric offensive in the automotive industry next year: The ID.31 goes on sale in the summer, soon followed by the ID.Next2, our first electric SUV. Our ID. family makes emission-free mobility accessible to many people for the first time. That is New Volkswagen.”



The brand continues to stand by its commitment to the Paris climate goals. Vehicles and the company are to achieve a carbon-neutral balance by 2050. CO2 emissions from production are to be halved by 2025. Volkswagen is well on track in this respect thanks to its electric offensive.



The digital transformation roadmap is an important stepping stone for the company in its modernization and digitalization efforts. Signed off in 2019, the roadmap follows on from the pact for the future and focuses in particular on further improvements in competitiveness and earnings power over the coming years.



It also lays the groundwork for expanding the software expertise of the brand and the Group. The Car.Software organization will already begin operating as an independent business unit in January 2020. By 2025, the in-house share of car software development and vehicle-related services is to rise from under ten percent today to at least 60 percent.



2019 sees the Volkswagen brand in the homestretch. COO Brandstätter underscored the strong team performance: “In a shrinking overall market the Volkswagen brand has won market shares worldwide and significantly improved its operating result. Ongoing restructuring of core business, including the positive effects of the pact for the future, and the success of the worldwide SUV offensive have been key to this achievement.



Improved earnings in the regions and successful WLTP management have been just as important.” The pact for the future signed in 2016 is also bringing results. Some €2.6 billion of the planned €3 billion cost savings will have already been achieved by the end of 2019.


CFO Arno Antlitz said: “Our strategy is gaining a foothold. Our vehicles are convincing customers and our consistent discipline with respect to costs and investments is having a positive impact. We therefore confirm our target of an operating return on sales of four to five percent for the full year 2019 in a difficult market environment.



As announced, we expect to generate cash flow from operating activities significantly in excess of one billion euros in 2019. Our financial targets for 2020 remain unchanged. Furthermore, we reaffirm our targets for 2022 of an operating return on sales of at least six percent and cash flow in excess of 2 billion euros.”


Production has also become more efficient in 2019, with the brand exceeding its annual productivity improvement target of five percent. The improvement by the end of the year is expected to be more than seven percent.


Last, but not least, 2019 was a successful year for vehicle premieres: In particular the Golf 8 and ID.3 as well as the T-Cross, Teramont3, T-Roc R4, and T-Roc Cabrio5 were extremely well received by customers.






1. ID.3.: The vehicle is not yet available for sale in Europe.

2. ID.Next: Study.

3. Teramont: The vehicle is not for sale in Germany.

4. T-Roc R: Fuel consumption, l/100 km: urban 9.5 - 9.1, extra-urban 6.6 - 6.5, combined 7.7 - 7.5; CO2 emissions combined in g/km: 176 - 171; efficiency class: D.

5. T-Roc Cabriolet: The vehicle is not yet for sale.


   




Dr. Langendorf Marc -

Permanent-URL: http://www.automobilsport.com/volkswagen-good-headway-transformation---201851.html

19.12.2019 / MaP

More News

Lexus celebrates half a million SUV sales across its European Markets
18.12.2019
   Sales landmark reached in less than 20 years    Lexus pioneered the luxury crossover market with the original RX model    Lexus also introduced self-charging hybrid power to the luxury SUV market with the RX 400h of 2005    Hybrid now integral to Lexus’ SUV product strategy, with 96% of W more >>
Collaborations and consolidation in global auto industry will continue in 2020, says GlobalData
18.12.2019
Following the news that the boards of PSA Group and Fiat-Chrysler (FCA) have signed off on plans to combine operations and create a leading global group; David Leggett, Automotive Editor at GlobalData, a leading data and analytics company, offers his view: “The planned merger between these two big vehicle makers is not over the line yet, but they have mo more >>
Groupe PSA and FCA agree to merge - details
18.12.2019
New entity will have the leadership, resources and scale to be at the forefront of a new era of sustainable mobility •    Combines companies’ extensive and growing capabilities to address the challenge of shaping the new era of sustainable more >>
Volkswagen introduces new remuneration model for 18,000 managers worldwide
13.12.2019
 Based on remuneration system for Board of Management and top management  Emphasis on entrepreneurship, team spirit and Group idea  Focus on financial situation, return targets and share basis Volkswagen is more >>
SKODA delivers 109,000 vehicles in November
11.12.2019
› Markets: Growth in Russia (+10.5%) and Czech domestic market (+5.7%)› Models: Demand for SUV models KAROQ, KODIAQ and KAMIQ remains high› Fourth generation of the brand icon ŠKODA OCTAVIA celebrates world premiere on 11 November at Prague National Gallery more >>
Volkswagen passenger cars grows deliveries in November
11.12.2019
Volkswagen brand delivers 586,400 vehicles worldwide in November, a significant increase of 3.9% compared with the same month last year  Volkswagen records growth in worldwide deliveries despite shrinking overall markets and further expands market shares  Sales Board Member Jürgen Stackmann: “The Volkswagen brand continues to demo more >>
Mercedes-Benz delivers more than 200,000 vehicles in a November for the first time
07.12.2019
    Mercedes-Benz sold 209,058 cars worldwide last month, passing the mark of 200,000 units delivered for the first time in a November (+5.3%).    From January to November a total of 2,133,594 vehicles were sold - a sales increase by 1.4%.    In November and since the beginning of the year, unit sales more >>
Record-breaking figure for Audi in November
07.12.2019
Deliveries up 23.1 percent to around 163,350 cars    North America and China close month with new records        Worldwide around 1,669,600 units since January, beating last year’s figure        Hildegard Wortmann, Member of the Board of Management for Sales and Market more >>
BMW Group sales continue to grow in November, with new all-time high also for electrified vehicles
07.12.2019
BMW Group sales continued their positive trend in November: Worldwide deliveries increased by 1.4% over the same month last year to 225,662 units. Deliveries in the year to the end of November were up 1.7% year-on-year, with a total of 2,296,174 premium BMW, MINI and Rolls-Royce vehicles sold.  more >>
UK car market is being dragged down by economic uncertainties, says GlobalData
05.12.2019
Following the news that the UK car market declined by 1.3% in November;David Leggett, Automotive Editor at GlobalData, a leading data and analytics company, offers his view: “The UK car market has been trending down for some time, hit by weak consumer and business more >>
Hadi Zablit appointed Alliance General Secretary
04.12.2019
Alliance Renault Nissan Mitsubishi MotorsAs of December 9th, Hadi Zablit is appointed Alliance General Secretary, reporting to the Alliance Operating Board and the CEOs of the three companies. The Alliance General Secretary will coordin more >>
Toyota Motor Europe announces executive changes for January 2020
04.12.2019
Toyota Motor Europe (TME) announced today several executive level appointments at its European Headquarters and Affiliates, effective January 1st, 2020.Toyota Motor Europe (TME) Executive Changes    Mr. Miguel Fonseca, currently R more >>
Strong Car & Truck Sales Fuel Record November for American Honda, and Honda and Acura Trucks
04.12.2019
   American Honda sets new November sales records for total vehicles (up 11.1%) and trucks (up 18.2%)    Honda brand truck sales jump 21.3% for best-ever November sales    Honda HR-V and CR-V each set new November records; Ridgeline gains 36.2%    Acura brand gains 3.1%, with record November truck more >>
BMW of North America Reports November 2019 U.S. Sales.
03.12.2019
BMW Brand Sales Increase 10.2% in November.BMW sales totaled 31,213 vehicles in November 2019, an increase of 10.2 percent over the 28,330 vehicles sold in November 2018.  Year-to-date, BMW sales in the U.S. are up 4.5 percent. more >>
Kia Motors announces November global sales
02.12.2019
Kia Motors Corporation today announced November sales of 248,942 units led by popular RV models including the Seltos and Sportage. The November results were slightly higher than the 246,942 sold in the same month a year earlier. Sales in Korea posted 48,615 uni more >>
Daimler decides on key points to streamline the company
29.11.2019
   Company and employee representatives agree measures to reduce staff costs and employment in a socially responsible manner    Implementation details will be further elaborated in the coming weeksDaimler and the General Works Council have agreed on key points in order to streamline the Group structure and more >>
Mitsubishi Motors Announces Production, Sales and Export Figures for October 2019
28.11.2019
October2019     Fiscal Year 2019 (19/04-19/10)     Calendar Year 2019 (19/01-19/10) Volume     YoY(%)     Volume     YoY(%)     Volume   & more >>
SMMT : Only ambitious brexit deal will safeguard jobs and Britain's green future
27.11.2019
   Industry calls on next government to put sector at heart of economic and trade policies, and agree an ambitious Brexit deal to deliver on UK’s green growth ambitions.    New figures show ta more >>
Hyundai looks to Southeast Asia for growth as global market falters, says GlobalData
26.11.2019
Following the news that Hyundai Motor has today (26th November 2019) signed a memorandum of understanding (MOU) with the Indonesian Government to build a vehicle manufacturing plant near Jakarta;David Leggett, Automotive Editor at GlobalData, a leading data and analytics company, offers his view:"With a population of 267 million, Indonesia has huge potential f more >>
Volkswagen Group China to invest over 4 billion Euro in 2020
21.11.2019
photo caption: Dr. Stephan Wöllenstein, CEO Volkswagen Group China at the Guangzhou Auto Show .  Next year’s share of investment for e-mobility increases to around 40 percent, paving the way for Volkswagen Group China’s NEV more >>
New in the Audi Board of Management: Dr. Arno Antlitz, Dirk Große-Loheide and Dr. Sabine Maaßen
20.11.2019
New Chief Financial Officer Dr. Arno Antlitz as of March 1, 2020        New Board of Management Member for Procurement Dirk Große-Loheide as of April 1, 2020        New Board of Management Member for Human Resources and Organization Dr. Sabine Maaßen as of April 1, 2020   &n more >>
Strong deliveries for Volkswagen Group in October
19.11.2019
12.2 percent rise in worldwide deliveries in October to 949,800 vehicles  Market shares expanded in all core regions, in some cases quite substantially  Significant increase of 6.6 percent in China despite shrinking overall more >>
Volkswagen confirms strategic financial targets of Together 2025+
18.11.2019
Strategic financial targets for operating return on sales, return on investment, capex ratio and R&D cost ratio, net cashflow and net liquidity confirmed  Outlook for the current fiscal year 2019 confirmed more >>
Markus Duesmann to be new Audi CEO
15.11.2019
Markus Duesmann to succeed Bram Schot on April 1, 2020        Supervisory Board Chairman Dr. Diess: “Markus Duesmann will do everything in his power to leverage the great potential of the Audi brand” / “Thank you t more >>
Volkswagen investing strongly in the future
15.11.2019
Planned investments and development costs for future areas such as hybridization, electric mobility and digitalization will total roughly EUR 60 billion between 2020 and 2024  Share of planned spend for future topics increased in Planning Round 68 to approximately 40 percent from approximately 30 percent in the previous Planning Round more >>
Daimler cuts costs and sets course for the future
15.11.2019
   Automobile company focuses on sustainable business strategy    Long-term growth drivers for Daimler continue to be individual mobility and transport of goods and people    Profitability impacted by CO2 reduction and transformation of automotive industry    Comprehensive measur more >>
SKODA delivers 105,300 vehicles in October
14.11.2019
ŠKODA delivered 105,300 vehicles in October, up 5.9% on the same month last year (October 2018: 99,400 vehicles). In Russia, deliveries to customers increased by 16.9% to 8,900 vehicles (October 2018: 7,600 vehicles). more >>
Volkswagen Passenger Cars grows deliveries in October
14.11.2019
    Volkswagen brand delivers 562,200 vehicles worldwide in October, a strong increase of 8.8 percent compared with the same month last year    Volkswagen records growth in worldwide deliveries as well as in China and Brazil despite shrinking overall markets, and makes significant gains in market shares    more >>
Goldman Sachs tops GlobalData’s top 10 global M&A financial advisers league table in automotive sector
13.11.2019
....for Q1-Q3 2019Goldman Sachs has dominated the latest mergers and acquisitions (M&A) league table of the top 10 financial advisers for the automotive sector based on deal value in the first three quarters (Q1-Q3) of 2019, according to GlobalData, a leading data and analytics company. more >>
Nissan contributes € 233 million for third quarter 2019 to Renault’s earnings
13.11.2019
Nissan released its results for the second quarter of fiscal year 2019/2020 (April 1st, 2019 to March 31th, 2020).  Nissan’s results, published in Japanese accounting standards, for the second quarter of fiscal year 2019/2020 (July 1st to September 30th, 2019), after IFRS restatements, will have a positive contribution to Renault’s third quarter 2019 net more >>
Nissan's latest results underline scale of recovery challenge ahead, says GlobalData
12.11.2019
Following the release of Nissan’s financial results (12 November 2019), where the company has reported quarterly operating profits are down 70% on last year;David Leggett, Automotive Editor at GlobalData, a leading data and analytics company, offers his view:"The latest set of results from Nissan underlines the scale of the recovery cha more >>
Isuzu Motors of Japan confirms investment in the next generation bakkie programme for South Africa
11.11.2019
Photo caption: Minister Ebrahim Patel, left shakes hands with Michael Sacke, Isuzu Motors South Africa Chief Executive Officer and Managing Director at a recent vis more >>
Audi increases deliveries in October by 26.8 percent to around 149,150 cars
08.11.2019
Growth in all three core regions        China, up 6.0 percent, continues to set records        Hildegard Wortmann, Member of the Board of Management for Sales and Marketing: “Deliver more >>
Pierre Martin Bos appointed as FCA South Africa CEO
07.11.2019
Fiat Chrysler Automobiles (FCA) is pleased to announce the appointment of Pierre Martin Bos as Chief Executive Officer for South Africa. Out-going CEO, Graham Eagle will leave his position on 15 November more >>
Global corporate sports sponsoring market reaches over USD 30 bn
07.11.2019
...with just a share of 7% at female sports The total market volume of direct corporate financial sports sponsoring is at USD 30.87 bn with 93% of this funding is directed at the male sport industry. Thi more >>
Mercedes-Benz continues worldwide growth in unit sales at the beginning of fourth quarter
07.11.2019
    Last month, Mercedes-Benz surpassed its previous bestselling October with deliveries of 199,293 cars (+4.9%).    From January to October, a total of 1,924,536 vehicles were sold and worldwide deliveries increased by 1.0% compared with the same period of last year.    In China, the biggest market for Mer more >>
BMW Group increases deliveries, revenues and earnings
06.11.2019
Deliveries and market share up, despite weak market trend - EBIT and free cash flow rise significantly in third quarter - High upfront expenditure for future-oriented technologies - Outlook for financial year 2019 reaffirmed - Zipse: “The decisive transformation is taking place inside the vehicle” more >>
SKODA AUTO increases sales revenue and operating profit in first nine months of 2019
04.11.2019
› By the end of September, sales revenue had increased by 17.6% compared to the same period last year to 14.8 billion euros. This includes the new consolidation of the Indian business› Operating profit is 8.5% above the previous year’s level at 1.175 billion euros› 913,700 vehicles delivered in the first nine months; -2.7% d more >>
Daimler launches new corporate structure
04.11.2019
    Daimler Group comprising parent company and three operating subsidiaries    Increased customer focus and agility with Mercedes-Benz AG, Daimler Truck AG and Daimler Mobility AG    Daiml more >>

2001-2020 automobilsport.com full copyright