H. Yoo
Research expert covering South Korea
Volkswagen Group - Statistics & Facts
The Volkswagen Group鈥檚 2024 financial year was marked by strikes as the company announced planned plant closures and layoffs in Germany. By late December 2024, an agreement which involved provisions to cut more than 35,000 jobs had been reached between the group and the IG Metall union. To put this in context, the Volkswagen Group is one of the world's leading vehicle manufacturing companies. In 2024, its namesake brand Volkswagen was the second best-selling brand within the global automotive market. A year later, its luxury brand Porsche ranked among the ten most valuable brands in the automotive sector. The group's 2024 financial performance reflects its position among the global automotive leaders: Between 2006 and 2024, Volkswagen AG had more than tripled its sales revenue, despite a slight decline in the group's deliveries during the latest financial year.
In 2024, the Audi Progressive Brand Group was the manufacturer's second leading segment in terms of sales, representing some 22.04 percent of the VW Group's vehicle sales revenue. The Audi Progressive Brand Group's contribution to Volkswagen Group's financial performance was only outweighed by Volkswagen Passenger Cars, the company's eponymous brand, which was the best-selling car brand in the European Union in 2024.
The Volkswagen Group remains one of the global leaders in the automotive industry, and recorded relatively positive financial results in 2024, despite a decrease in vehicle deliveries. Its investments in drivetrain and Artificial Intelligence innovations, as well as its large portfolio of brands, help secure its place in the European and global market.
Volkswagen invests in innovation
Nine years on from the Volkswagen emissions scandal, the company has been investing in the reduction of its greenhouse gas emissions and in new drivetrain technologies. Volkswagen aimed to expand its electric car model range and tap into the growing European market for electric vehicles. This innovation was possible through investments in its research and development spending. The group鈥檚 commitment to innovation contrasts with that of one of its main competitors, the Toyota Motor Corporation. During the same period, the Volkswagen Group reported a higher research and development intensity than its Japanese rival. The Volkswagen Group also increased its investments in artificial intelligence, which led to the establishment of its specialized AI Lab in January 2024. This launch came after Volkswagen Group presented its first vehicles with ChatGPT integration at CES 2024. However, despite the manufacturer鈥檚 efforts to innovate, its global battery-electric vehicle sales decreased across most brands in 2024.Volkswagen's most successful brands
Although Volkswagen is the group's most prolific marque, the automotive company has acquired several other brands over the last few years. Volkswagen's most notable brands include Audi, SEAT, Porsche, and 艩koda. The automaker also finalized a deal to acquire U.S.-based Navistar to its commercial vehicle segment in 2022 and owns Scania and MAN, two European manufacturers of commercial vehicles and engines. The Volkswagen Group also holds stakes in the Ducati motorcycle brand.In 2024, the Audi Progressive Brand Group was the manufacturer's second leading segment in terms of sales, representing some 22.04 percent of the VW Group's vehicle sales revenue. The Audi Progressive Brand Group's contribution to Volkswagen Group's financial performance was only outweighed by Volkswagen Passenger Cars, the company's eponymous brand, which was the best-selling car brand in the European Union in 2024.
The Volkswagen Group remains one of the global leaders in the automotive industry, and recorded relatively positive financial results in 2024, despite a decrease in vehicle deliveries. Its investments in drivetrain and Artificial Intelligence innovations, as well as its large portfolio of brands, help secure its place in the European and global market.
