Tweet
Volkswagen Group and its brands bring 2019 to successful conclusion

Volkswagen Group and its brands bring 2019 to successful conclusion

17.03.2020: CEO Dr. Herbert Diess: “2019 was a very successful year for the Volkswagen Group. We have laid vital groundwork for all relevant changes.” Volkswagen Passenger Cars increases sales revenue and operating profit – ID.31 and Golf 8 DNA models introduc

CEO Dr. Herbert Diess: “2019 was a very successful year for the Volkswagen Group. We have laid vital groundwork for all relevant changes.”

 
Volkswagen Passenger Cars increases sales revenue and operating profit – ID.31 and Golf 8 DNA models introduced, new brand design expresses the brand’s new attitude

 
Audi achieves higher operating return on sales – ŠKODA, SEAT, Bentley, Porsche, Scania and MAN see improvements in sales revenue and operating profit

 
Volkswagen Commercial Vehicles sees decrease in earnings, Volkswagen Financial Services sees significant increase in sales revenue and record operating profit





The Volkswagen Group brought fiscal year 2019 to a successful conclusion with improved financial results in almost all brands. Dr. Herbert Diess, Chairman of the Board of Management of Volkswagen Aktiengesellschaft, said, “2019 was a very successful year for the Volkswagen Group. We have laid vital groundwork for all relevant changes.



2020 is a very difficult year. The corona pandemic presents us with unknown operational and financial challenges. At the same time, there are concerns about sustained economic impacts. We will succeed in overcoming the corona crisis by pooling our strengths and with close cooperation and high morale in our Group.”



At EUR 88.4 billion, the Volkswagen Passenger Cars brand’s sales revenue in 2019 was 4.5 percent higher than in the previous year. Operating profit before special items increased to EUR 3.8 (3.2) billion. Improvements in the mix and price positioning in particular compensated for lower sales of Volkswagen Passenger Cars models and for launch costs and negative exchange rate effects. The operating return on sales before special items increased to 4.3 (3.8) percent. The diesel issue gave rise to special items of EUR –1.9 (–1.9) billion.



The Audi brand’s sales revenue declined to EUR 55.7 (59.2) billion in fiscal year 2019. The reason for this was the Group’s internal relocation of the multibrand sales companies. Operating profit (previous year’s figure excludes special items) amounted to EUR 4.5 (4.7) billion.



Mix and product cost improvements offset negative effects from model start-ups and phase-outs, higher upfront expenditure for new products and technologies, an unfavorable exchange rate trend and personnel cost increases. The operating return on sales (previous year’s figure excludes special items) was 8.1 (7.9) percent. The financial key performance indicators for the Lamborghini and Ducati brands are included in the financial figures for the Audi brand.



Sales revenue at the ŠKODA brand increased by 14.5 percent in 2019 to EUR 19.8 billion, partly due to initial consolidation following the assumption of regional responsibility for India.


Operating profit improved by EUR 0.3 billion to EUR 1.7 billion. Volume increases, mix optimizations and pricing measures more than compensated for negative effects resulting from cost increases and higher upfront expenditure for new products. The operating return on sales stood at 8.4 percent, compared to 8.0 percent in the previous year.



SEAT continued its upward trend in the reporting year: Sales revenue was EUR 11.5 billion, exceeding the previous year’s record figure by 12.7 percent. Operating profit rose to EUR 445 (254) million, which was also a new record. Particularly volume and mix effects had a positive impact. The SEAT brand’s operating return on sales improved to 3.9 (2.5) percent.



The Bentley brand generated sales revenue of EUR 2.1 billion in 2019, exceeding the equivalent prior-year figure by 35.1 percent. Operating profit improved to EUR 65 (–288) million driven by higher volumes, as well as by cost savings in connection with the ongoing efficiency program together with mix effects and exchange rate trends. The brand’s operating return on sales increased to 3.1 (–18.6) percent.



Porsche Automotive’s sales revenue increased by 10.1 percent to EUR 26.1 (23.7) billion in fiscal year 2019. Operating profit before special items improved by 2.4 percent year-on-year to EUR 4.2 billion. Volume and mix improvements as well as product cost optimization compensated for negative exchange rate effects and cost increases. The operating return on sales before special items was 16.2  (17.4) percent. The diesel issue gave rise to special items of EUR –0.5 billion in the reporting period.



Sales revenue by Volkswagen Commercial Vehicles in fiscal year 2019 was almost on a level with the previous year, at EUR 11.5 (11.9) billion. In particular, increased fixed and development costs for new products reduced operating profit to EUR 510 (780) million. Improved product costs had a positive effect. The operating return on sales was 4.4 (6.6) percent.




Scania Vehicles and Services generated sales revenue of EUR 13.9 (13.0) billion in fiscal year 2019. Operating profit increased by 24.8 percent to EUR 1.5 billion. In addition to higher vehicles sales and a stronger genuine parts and service business, improvements in the mix as well as exchange rate effects had a positive impact on profit. The operating return on sales was 10.8 (9.3) percent in the reporting year.



Driven by higher volumes, sales revenue at MAN Commercial Vehicles climbed to EUR 12.7 billion in 2019, exceeding the prior-year figure by 4.6 percent. Operating profit was up on the prior-year period at EUR 402 (332) million, which was negatively impacted by expenses incurred in connection with the restructuring of activities in India. The brand’s operating return on sales was 3.2 (2.7) percent.



The sales revenue of Volkswagen Financial Services in the reporting year amounted to EUR 38.0 billion, an increase of 15.8 percent on the previous year. Operating profit rose by 13.3 percent and hit a new record of EUR 3.0 billion. The increase was mainly attributable to business growth.



Frank Witter, Group Board of Management Member for Finance and IT, said,
“The spread of coronavirus is currently impacting the global economy. It is uncertain how severely or for how long this will also affect the Volkswagen Group. Currently, it is almost impossible to make a reliable forecast. We are making full use of all measures in task force mode to support our employees and their families and to stabilize our business.”




1. This vehicle is not yet offered for sale in Europe.

   


   

Christoph Oemisch - photo vW

Permanent-URL: http://www.automobilsport.com/volkswagen-group-brands-2019-successful-conclusion---205256.html

17.03.2020 / MaP

More News

Daimler postpones Annual Shareholders’ Meeting
14.03.2020
    Annual Meeting will not take place on April 1 due to Corona pandemic    Priority placed on health of shareholders, employees, guests and service providersAfter weighing all aspects, es more >>
Porsche SE: Total dividend payout of 952 million euros
13.03.2020
Dividend proposal 41 percent increase- 3.11 euros per priority share - Group profit after tax increases by 26.3 percent to 4.4 billion eurosThe Board of Management and Supervisory Board of Porsche Automobil Holding SE (Porsche SE), Stuttgart, are proposing to increase the dividend for fiscal 2019 by 41 percent to Euro 3.11 ( more >>
BMW Group increases profitability and EBIT again in fourth quarter – targets for 2019 achieved
13.03.2020
Zipse: "Embracing transformation with confidence" -  Profit before tax up significantly in fourth quarter - Group revenues exceed 100 billion euros for the first time -  Quarter-on-quarter improvement in profitability in 2019 -  Solid free cashflow at 2.6 billion euros -  Revenues in fourth quarter at more >>
Supervisory Board names Frank Weber to Board of Management of BMW AG
12.03.2020
Klaus Fröhlich to step down from Board of Management at age 60 - Frank Weber will head Development division, effective July - Reithofer: “Competent successor to Klaus Fröhlich” -  Zipse: “Excellent addition to Board of Management” more >>
Reorganization Businesss Infrastructure of the Entire Mitsubishi Motors Group
12.03.2020
Reorganizes Domestic Sales Affiliates to Offer Customer First Services by Reinforcing the Business Infrastructure of the Entire Mitsubishi Motors GroupMitsubishi Motors Corporation (MMC) will r more >>
Mitsubishi Motors Announces Top Management and Other Important Personnel Changes
11.03.2020
Mitsubishi Motors Corporation announced today the top management and other important personnel changes effective April 1, 2020. 1.Executive Officers  more >>
Volkswagen pays performance-related bonus of €4,950
11.03.2020
CEO Dr. Herbert Diess and Works Council Chairman Bernd Osterloh praise team performance in 2019 For 2019, the employees of Volkswagen AG covered by collective bargaining agreements are to receive a performance-related bonus of €4,950 gross. The CEO of Volkswagen AG, Dr. Herbert Diess, and the Chairman of the General Works Council, Bernd Osterl more >>
Louis Gallois will continue to serve as Chairman of the Peugeot S.A. Supervisory Board
11.03.2020
Further to the signing of the Combination Agreement between Groupe PSA and FCA on December 17, 2019, and in order to ensure continuity until the closing of the merger between the two companies, Louis Gallois has agreed, with the Supervisory Board members, that he will continue to serve as Chair more >>
New management for BMW Bank GmbH -Kathrin Kerls takes over as Chair of Board of Management
06.03.2020
BMW Bank GmbH will appoint Kathrin Kerls as its new Chair of the Board of Management, effective 1 April 2020. The 51-year-old lawyer joins the company from UniCredit Bank AG, where she has worked since 2009. more >>
Coronavirus leads to nosedive in global vehicle sales with lowest January registrations since 2012, says GlobalData
04.03.2020
Global light vehicle sales figures from the first month of 2020 should make for alarming reading. Just 6.2 million were sold in January, - the lowest monthly figure since January 2012, which saw 5.9 million units sold, according to GlobalData, a leading data and analytics company.Driving the drop in sales was the emergence in December 2019 of the coronavirus (COVID more >>
Kia Motors America Announces Record February Sales
03.03.2020
Best-Ever February Sales of the Sportage SUV Leads Kia to a Twenty Percent Year-Over-Year IncreaseKia Motors America today announced record February sales of 52,177 vehicles, a 20-percent increase over the same period last year. Sales were led by the Fo more >>
Record Truck Deliveries and Strong Car Sales Boost American Honda to February Records and 2020 Gains
03.03.2020
    American Honda trucks set new February record as both Honda and Acura Divisions set new benchmarks    American Honda sales were up 4.2%, with trucks gaining 6% and passenger cars up 2% for the month &n more >>
European Commission and cities and regions pledge closer cooperation to boost uptake of Free Trade Agreements
02.03.2020
Trade Commissioner Phil Hogan joined the members of the European Committee of the Regions' (CoR) commission for economic policy (ECON) on 2 March to discuss the opportunities and obstacles of implementing EU Free Trade Agreements (FTAs) on local and regional level. The ECON members also adopted their recommendations on the implementation of FTAs, t more >>
Hyundai Motor Company appoints new head of Middle East and Africa region
02.03.2020
Hyundai Motor Company has announced the appointment of Mr Bang Sun Jeong as its new vice president of the Middle East and Africa region. Based at Dubai's regional headquarters in the United Arab Emirates, Jeong will oversee the day-to-day operations and wil more >>
Kia Motors announces February global sales
02.03.2020
Kia Motors Corporation today announced its February 2020 global sales results for passenger cars, recreational vehicles (RVs) and commercial vehicles, recording a total of 187,844 units sold, which represents a five percent decrease from February 2019.Compared to February 2019, the sales more >>
Wayne Griffiths, new Chairman of the Board of Directors of CUPRA
02.03.2020
The CUPRA Tribe continues to grow    The current CEO is now also the brand’s senior executive    CUPRA expands its team in order to achieve a turnover of one billion eurosWayne more >>
Volkswagen Group with positive business performance in 2019
28.02.2020
 Sales revenue increases to EUR 252.6 billion (+7.1 percent) – operating profit before special items grows to EUR 19.3 billion (+12.8 percent)  Automotive Division: Net cash flow increases markedly to EUR 10.8 (-0.3) billion; net liquidity reaches EUR 21.3 (19.4) billion  Board of Management and Supervisory Board propose an more >>
Mitsubishi Motors Corporation Personnel Changes
28.02.2020
MITSUBISHI MOTORS CORPORATION (MMC) will make the following personnel changes as of March 1. Personnel Changes Effective March 1, 2020 Hiroshi N more >>
Mitsubishi Motors Announces Production, Sales and Export Figures for January 2020
27.02.2020
January 2020     Fiscal Year 2019 (19/04-20/01)     Calendar Year 2020 (20/01-20/01) Volume     YoY(%)     Volume     YoY(%)     Volume &nbs more >>
Renault Retail Group presents its project to change scope between now and 2024
27.02.2020
    Renault Retail Group (RRG) is planning to resize its business activities in France.    The project will involve the sale of ten dealerships to reliable and robust purchasers, safeguarding jobs.    The project will enable RRG to pursue its recovery and optimize future investments. more >>
Groupe PSA achieved a new profitability record in 2019
26.02.2020
•    €74.7 billion Group revenue up 1%•    8.5% Group adjusted operating margin[1] at €6.3 billion•    8.5% Automotive division[2] adjusted operating margin up 0.9 pt at €5.0 billion•    Record net result Group share at €3.2 billion•&nb more >>
In 2019, Groupe PSA contributed €4.4 billion to France’s trade balance
25.02.2020
•    A positive contributor for more than five years•    One-third of French automotive exports are Groupe PSA models•    The Group produces more vehicles in France than in any other country•    Fifteen models are manufactured in France, including high value-added mo more >>
Mercedes-Benz Bank sets records in 2019
24.02.2020
    New business with leasing and financing for Daimler vehicles grows to a new high of 13.3 billion euros in 2019.    Customer deposits increase to 11.9 billion euros.    Growth potential with hybrid and electric vehicles. more >>
Johnson’s no-deal threat ‘further cause for concern’ for UK auto industry, says GlobalData
24.02.2020
Ahead of the trade negotiations between the UK and EU next month, Prime Minister Boris Johnson has vowed to walk away from the table if political and legal sovereignty conditions are not met.A statement from Downing Street said: “The UK’s primary objec more >>
Porsche Ventures invests in US software company DSP Concepts
21.02.2020
Growth financing for audio specialists based in Silicon ValleyDSP Concepts team: 2nd ltr, Paul Beckmann (CTO), 3rd ltr, Chin Beckmann (CEO)Porsche has purchased a stake in Silicon Valley-based DSP Concepts, Inc. A tota more >>
Ford's European unit points the way for Ford turnaround, says GlobalData
21.02.2020
In an exclusive interview with GlobalData, Ford of Europe President Stuart Rowley outlined the unit’s strategy to move from operating at a loss to turning a profit.David Leggett, Automotive Editor at GlobalData, a leading data and analytics company, offers his more >>
Expert comment: Supply and demand problems growing for car makers as coronavirus hits Chinese sales
21.02.2020
 Responding to reports that car sales have fallen 92 per cent in China, Christian Stadler, Professor of Strategic Leadership at Warwick Business School and an expert in the automotive industry, said: more >>
New record for BMW Group idea management – Employee proposals generate over 62 million € in savings
21.02.2020
- Top idea saves 39 million € in first year - Horstmeier: “Our employees make all the difference” Improvements proposed by BMW Group employees reached a new all-time high last year as part of the CRE8 ide more >>
Daimler optimizes decision-making processes and streamlines organizational structure
21.02.2020
    The Board of Directors and the Supervisory Board of Daimler AG and Mercedes-Benz AG optimize Mercedes-Benz Cars’ development, operation and finance area by realigning the Company’s organizational structure. This reorganization will take effect on April 1, 2020. more >>
Abu Dhabi to host United Nations forum on investment and technology for sustainable development.
17.02.2020
World leaders, top CEOs to make global push for sustainable investmentGovernment leaders, global CEOs and other investment stakeholders will step up efforts to promote investment for sustainable more >>
Daimler reports full-year 2019 results
11.02.2020
    Group unit sales of 3.34 million vehicles (2018: 3.35 million)    Revenue up 3% to €172.7 billion (2018: €167.4 billion)    Group EBIT of €4.3 billion (2018: €11.1 billion) more >>
Ford Announces Senior Leadership Changes as Company Continues Transformation
10.02.2020
•    Jim Farley becomes chief operating officer, reporting to president and CEO Jim Hackett, responsible for all global markets and automotive operations, Ford Smart Mobility and autonomous vehicles •    Hau Thai-Tang takes on an expanded role in delivering great products, services and experiences for Ford customers. He will cont more >>
Mitsubishi Motors South Africa announces soaring sales in shrinking market
07.02.2020
•    Retail sales for the 2019 calendar year up by 13.6%•    Latest Triton, new Eclipse Cross lead the way•    January 2020 dealer retail figures up by 31% vs 2019MITSUBISHI MOTORS more >>
Porsche Ventures invests in software start-up Nitrobox
04.02.2020
Hamburg-based company concludes financing round in the single-digit million range     Nitrobox founders: CEO Henner Heistermann and CTO Sven Grimminger (left to right)The software start-up Nitrobox Gm more >>
Honda Trucks Set Records, Acura Cars Rise for American Honda in January
03.02.2020
    American Honda trucks set new January sales record    Honda brand trucks mark best January sales, rising 2.3%    Honda truck sales gains led by HR-V with new January record (up 25%) and Ridgeline (up 57%)    Acura brand car sales rise 6% as ILX climbs 16% and TLX gains 6% more >>
Change of management: Personnel changes at Daimler Trucks & Buses
03.02.2020
    Ulrich Bastert, Head of Sales and Marketing at Daimler Buses, will be retiring in the middle of this year.    Philipp Schiemer, who is the current Head of Mercedes-Benz do Brasil Ltda., will be taking over his position starting on June 1st.    On May 1st, Karl Deppen will become the new Head of Me more >>
Kia Motors announces January global sales
03.02.2020
Kia Motors Corporation has announced its January 2020 global sales results for passenger cars, recreational vehicles (RVs) and commercial vehicles, which saw 215,112 units sold, representing a 2.5 percent rise from January 2019.Sales in Korea decreased to 37,050 units fr more >>
Lexus announces global sales 2019 results
03.02.2020
Global sales for January–December 2019 marked a new annual record high of 765,330 units (a 10% increase from the previous year). In addition to the well-received UX and redesigned ES, which were introduced in 2018, and the popular RX, which underw more >>
Mitsubishi Motors Responsibility Changes in Executive Officers
31.01.2020
Mitsubishi Motors Corporation (MMC) will make the following responsibility changes in the executive officers effective February 1, 2020. Effective February 1, 2020     more >>

2001-2020 automobilsport.com full copyright