(News Bulletin 247) – The Volkswagen group today announced its results for the first quarter. Sales increased by 22% to EUR 76 billion, mainly due to a recovery in sales volumes in Europe and North America.
Operating profit increased by 35% to 7.1 billion euros before valuation effects, mainly due to commodity hedging. The automotive net cash flow is at 2.2 billion euros at the end of the first quarter of 2023.
BEV deliveries increased by 42% to 141,000 in Q1 (7% of total deliveries).
The Group continues to record strong demand, with an order book of 1.8 million vehicles in Western Europe alone, including 260,000 BEVs.
In 2023, the group will continue to systematically invest in the digitization and electrification of the company, both in Europe and in global growth regions.
“With this solid performance and an order book of 1.8 million vehicles at the end of the first quarter, we confirm our financial outlook for 2023,” said Arno Antlitz, Group Chief Financial Officer.
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