BERLIN (Reuters) – Volkswagen said on Wednesday it expected orders in Western Europe to accelerate in the coming months thanks to its new models.
The German car manufacturer includes in its predictions its electric car models already on the market and with which Volkswagen started the new year with a clearly positive trend, the company said.
Volkswagen recently launched the 100% electric ID.7 sedan on the market, and more than 30 new models have been announced across the group for the current year.
The group published a moderate outlook at the beginning of the month as well as a higher dividend, rewarding shareholders ahead of a year that promises to be more difficult for the automobile market due to rising costs, tougher competition and of inflation.
The operational sales yield of its “Core” brands (Volkswagen, Volkswagen Commercial Vehicles, Skoda and Seat/Cupra) increased by 5.3% in 2023 from 3.6%, constituting an important first step towards its target of 8% .
Volkswagen is currently focused on cutting costs and has unveiled plans to cut costs for its eponymous brand’s administrative staff by a fifth, through partial and early retirements rather than layoffs.
(Reporting Christina Amann, writing by Miranda Murray; Stéphanie Hamel, editing by Kate Entringer)
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