By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
The Auto Magazine
  • Home
  • Auto Shows
    Auto ShowsShow More
    BMW and Alvaro Barrington celebrate hydrogen mobility at Art Basel in Basel 2025
    June 18, 2025
    MHB DEALER EXPO 2025 – A Premier Automotive Networking Experience
    June 17, 2025
    Entries Open for The Cape 1000 – South Africa’s Most Beautiful Drive Returns for 2026
    June 10, 2025
    Ulterio Motiv Toyota Land Cruiser 6×6 and 6×4 to invade Land Cruiser Festival
    June 3, 2025
    Maserati enthrals at FuoriConcorso with GT2 Stradale and MCXtrema
    May 14, 2025
  • Bikes
    BikesShow More
    Desmo450 MX: Production of the first Ducati Motocross bike begins
    May 28, 2025
    25YM Honda NC750X
    May 13, 2025
    BMW Motorrad presents the new BMW R 1300 RS
    May 2, 2025
    BMW Motorrad presents the new BMW R 1300 RT
    April 30, 2025
    Honda NC750X Named Winner in 2025 Red Dot Design Award
    April 10, 2025
  • News
    NewsShow More
    Porsche 963 cars raise 600,000 euros in Le Mans towards Racing for Charity
    June 20, 2025
    50 Years of BMW Art Cars and the BMW 3 Series at the BMW Museum
    June 20, 2025
    Ford Performance Returns to Pikes Peak with Electric Super Mustang Mach-E Demonstrator
    June 20, 2025
    Winners of ISUZU AI Innovation Challenge 2024 announced
    June 18, 2025
    Kia Tasman Blazes New Trail 
    June 18, 2025
  • Concepts
    ConceptsShow More
    TOYOTA GAZOO Racing unveils liquid hydrogen-fueled “GR LH2 Racing Concept” at Le Mans
    June 11, 2025
    FIAT unveils the manifesto Grande Panda 4×4
    May 20, 2025
    Renault 4 Savane 4×4 Concept makes its global debut at Roland-Garros 2025
    May 16, 2025
    Hyundai Motor and Plus Unveil Concept for Autonomous Hydrogen Freight Ecosystem at ACT Expo 202
    May 2, 2025
    Hyundai Motor Unveils the new IONIQ 6 and IONIQ 6 N Line
    April 5, 2025
  • Interviews
    InterviewsShow More
    24-hour race at Le Mans, the Nürburgring and Spa – triple marathon for Mercedes-AMG Motorsport
    June 10, 2025
    Kosmas “Dudie” Mamaloukos – The Formidable Racing Talent
    May 15, 2025
    Hi-Range Safari City
    Hi-Range Safari City – The Premier outfitter for 4×4 customization
    May 15, 2025
    BEHIND THE SCENES: ARCHIE RUTHERFORD ON WHAT IT TAKES TO BRING THE W2RC TO SOUTH AFRICA
    May 9, 2025
    Europe and China’s automotive future in a shifting global order
    May 5, 2025
  • EVs
    EVsShow More
    Polestar 3 OTA update introduces new Abbey Road Studios Mode exclusively for Bowers & Wilkins audio system
    June 18, 2025
    No Compromise Ford Ranger PHEV Brings Electric Power to Europe’s Best-Selling Pickup
    June 18, 2025
    Scania launches MCS rapid charging solution at EVS38
    June 18, 2025
    Ford Begins Capri and Explorer Battery Pack Assembly in Cologne
    June 17, 2025
    Special Envoy Launches XPress – SA’s First Full EV Courier Fleet
    June 11, 2025
  • Motosport
    MotosportShow More
    Commanding performance by Škoda at Rally Poland
    June 20, 2025
    Nissan Formula E Team ready for Jakarta return as Season 11 enters closing stages
    June 20, 2025
    Martin Prokop Becomes First Privateer for Ford Raptor T1+
    June 18, 2025
    The 2025 24 Hours of Le Mans in Numbers
    June 18, 2025
    Samantha Tan makes her debut in the MINI John Cooper Works at the Nürburgring
    June 18, 2025
  • Trucks & Buses
    Trucks & BusesShow More
    Scania launches MCS rapid charging solution at EVS38
    June 18, 2025
    Daimler Truck and Volvo Group launch Coretura
    June 17, 2025
    Volvo Trucks launches upgraded Volvo Dynamic Steering system to increase road safety
    June 17, 2025
    MAN starts series production of electric trucks
    June 17, 2025
    UD Trucks Southern Africa celebrates dealers breaking barriers at 2025 awards ceremony
    June 11, 2025
  • Reviews
    ReviewsShow More
    THE NEW HAVAL H6 SUV IS HERE, AND IT’S BUILT FOR BIG MOMENTS!
    June 18, 2025
    THE NEW PEUGEOT E-208 GTi MORE PLEASURE. MORE GTi THAN EVER!
    June 17, 2025
    New BMW XM options: maximum exclusivity and breathtaking performance.
    June 12, 2025
    The Audi Q5 e-hybrid: all-rounder with great electric range
    June 11, 2025
    Lotus introduces 2026 Emira V6 SE and Emira Turbo
    June 6, 2025
  • Tech
    TechShow More
    New Kia App provides European drivers with a unified digital experience
    June 17, 2025
    Abbey Road Studios Mode makes global debut in Volvo EX90
    June 17, 2025
    Audi develops the picking process of the future
    June 2, 2025
    Volvo EX90 LiDAR and smartphone cameras: What you need to know
    June 2, 2025
    VNC Automotive Partners with P3 to Enhance the SPARQ OS Platform
    May 29, 2025
Hot News
Commanding performance by Škoda at Rally Poland
Porsche 963 cars raise 600,000 euros in Le Mans towards Racing for Charity
Nissan Formula E Team ready for Jakarta return as Season 11 enters closing stages
50 Years of BMW Art Cars and the BMW 3 Series at the BMW Museum
Ford Performance Returns to Pikes Peak with Electric Super Mustang Mach-E Demonstrator
Motosport

Honda to Participate in Formula One 2026 Season as Power Unit Supplier for Aston Martin Aramco

The winners of the Volkswagen Group Award 2024 with Dirk Große-Loheide, Member of the Extended Group Executive Board and Member of the Board of Management for Procurement of the Volkswagen Passenger Cars brand (back row, 2nd from left).
Latest News

Volkswagen AG honors its best suppliers

Latest News

Škoda Auto marks 55 years since production of the Skopak began in Pakistan

Motosport

TGR Prepares for the final showdown at the 2024 Rally of Morocco

Font ResizerAa
The Auto MagazineThe Auto Magazine
  • Home
  • Auto Shows
  • Bikes
  • News
  • Concepts
  • Interviews
  • EVs
  • Motosport
  • Trucks & Buses
  • Reviews
  • Tech
Search
  • Home
  • Auto Shows
  • Bikes
  • News
  • Concepts
  • Interviews
  • EVs
  • Motosport
  • Trucks & Buses
  • Reviews
  • Tech
Follow US
Crafted by Intellegere Media. © 2024 The Auto Magazine. All rights reserved.
Latest News

Volkswagen Commercial Vehicles increases sales revenue in 2023

Itumeleng Garebatshabe
Last updated: March 22, 2024 08:34
By Itumeleng Garebatshabe
511 Views
10 Min Read
Share
10 Min Read
SHARE
  • Sales revenue increases to 15.3 billion euros, operating profit reaches a record value of 873 million euros
  • Return on sales on strategic target path with growth to 5.7 per cent
  • Colourful range  of new models this year: new Transporter, new California, updates for Multivan, Crafter and Caddy
  • World premiere of ID. Buzz GTX: the most powerful Bulli of all time
  • Strategic orientation: own SPACE vehicle family will strengthen commercial vehicle expertise
  • Development of autonomous driving is progressing according to plan: test drives for customers start in Hamburg this year

Volkswagen Commercial Vehicles is part of the Core brand group – the umbrella organisation of the Volkswagen Group’s high-volume brands – with the aim of ensuring joint growth and significantly increasing the overall efficiency of the five volume brands

Volkswagen Commercial Vehicles (VWCV) significantly increased its annual profit for the third consecutive year, achieving a record value of 873 million euros (previous year: 529 million euros). Year-on-year sales revenue increased by more than 30 per cent to 15.3 billion euros (previous year: 11.5 billion euros). Thanks to the consistent implementation of the GRIP 2030 corporate strategy with the associated Performance Programme, the commercial vehicle division from Hanover generated an operating return on sales of 5.7 per cent (previous year: 4.6 per cent) and is thus on its strategic target course. VWCV CEO Carsten Intra announced a model offensive for the current year: in 2024, the new Transporter and the new California will celebrate their world premiere, and almost all vehicles will receive significant updates. During the annual media conference, Lars Krause, member of the Board of Management responsible for Sales and Marketing, will also present the ID. Buzz GTX as part of a digital world premiere.

- Advertisement -
Ad image

In 2023, Volkswagen Commercial Vehicles handed over 409,400 vehicles to customers, an increase of around 25 per cent compared to the previous year. This positive development applies consistently to all VWCV vehicles and all regions. In total, the number of electric vehicles was four times higher than in the previous year: 29,300 vehicles handed over to customers led to a battery-electric vehicle share of 7.1 per cent.

Sales revenue, operating profit and return as well as cash flow at record levels

The solid financial result with growth in sales revenue, operating profit and return on sales reflects the interest of customers in VWCV vehicles. In addition, the result shows the strong impact of the high cost discipline that has been a key goal of Volkswagen Commercial Vehicles for several years with its GRIP 2030 corporate strategy and the associated Performance Programme. For Michael Obrowski, member of the Board of Management responsible for Finance and IT, the net cash flow is also an extremely important key performance indicator: “After minus 259 million euros in 2022, we closed the past year with a positive net cash flow of 683 million euros. This was a strong and important achievement by the entire team!” The 2023 financial result gives the brand from Hanover the necessary financial leeway for the 2024 model offensive and the transformation of the teams and plants. “We are developing Volkswagen Commercial Vehicles into a provider of a sustainable mobile future,” summarises Obrowski.

Model offensive 2024 starts with ID. Buzz GTX world premiere

Based on the course set in the previous year and the current business figures, VWCV CEO Carsten Intra says that there will be a major model offensive in 2024: “Almost all models are either new – or will receive a noticeable upgrade.”

The new Transporter will celebrate its premiere at the IAA Transportation in Hanover in the autumn. Commercial customers can look forward to more load capacity, higher payload, higher towing capacities and a wide range of drive systems, including turbodiesel, plug-in hybrid and all-electric drive versions. “The ID. Buzz, Multivan and new Transporter make up the most innovative trio of Bullis ever,” says Intra.

After the California CONCEPT based on the current Multivan already caused a stir in 2023, the new camper van will also celebrate its world premiere in 2024. Its new three-zone concept with two sliding doors makes for a more spacious overall living experience. In addition, the California is also being launched as a plug-in hybrid for the first time.

The Multivan will be presented as a 4MOTION version in 2024 and will also offer an exciting innovation as a plug-in hybrid: while the front axle is driven by the combustion engine, an electric motor powers the rear axle. This enables the all-wheel drive system to be easily implemented in a more efficient manner.

Pre-sales of the Crafter will start in the first half of 2024. This model will feature a completely new cockpit landscape and a host of helpful assist systems: from oncoming vehicle braking when turning and Autonomous Emergency Braking through to Lane Assist and Side Assist. Many of the new systems will already be standard equipment in the new Crafter.

The electric age also begins for the Caddy in 2024. This will be offered as a plug-in hybrid in the combination of a 1.5-litre petrol engine and electric drive with fast charging capability. All Caddy models will also receive a significant upgrade with a new digital cockpit and a number of intelligent assist systems.

During the annual media conference, Lars Krause, member of the Board of Management responsible for Marketing and Sales, will present the newest member of ID. Buzz family: the ID. Buzz GTX. With an output of 250 kW (340 PS), it is the most powerful series Bulli of all time. Thanks to an electric drive motor on the front and rear axles, it offers 4MOTION all-wheel drive. The ID. Buzz GTX will be launched in two versions: with a standard wheelbase and a new 79 kWh battery (gross energy content: 84 kWh) and with an extended wheelbase in combination with a new 86 kWh battery (gross: 91 kWh). The market launch of both ID. Buzz GTX models will take place in the second half of the year; pre-sales will start in the summer.

SPACE vehicle family strengthens commercial vehicle expertise

Looking at the planning beyond the current decade, Intra explains the development of the SPACE vehicle family. Based on the SSP Group platform, VWCV will develop its own commercial vehicle platform for vehicles in the B and C segments – for passenger and goods transport. “The first vehicle in the SPACE family will be an all-electric Crafter. This is scheduled to roll off the production line in 2028. All other models in the family are also without exception all-electric vehicles,” explains the VWCV CEO. In future, the SPACE models will be manufactured at all three VWCV sites in Germany and Poland and will guarantee the capacity utilisation of the plants.

Development of autonomous driving on schedule

The topic of autonomous driving is also about the future of mobility. Within the Volkswagen Group, Volkswagen Commercial Vehicles is responsible for the development and deployment of MaaS and TaaS solutions (Mobility and Transport as a Service). Tests in Munich, Austin (Texas, USA) and Hamburg with a pre-series model of the autonomously driving ID. Buzz are all going according to plan. For the current year, Intra announced the first test drives with real customers at the mobility service provider MOIA in Hamburg.

Top 10 programme 2024

As in the previous year, VWCV is implementing the most important strategic tasks of the current year as part of a Top 10 programme. In this programme, “Performance” comes first. Against the backdrop of the globally challenging competitive environment and the slower ramp-up of electric mobility, particularly in Europe, Intra emphasises the importance of this point: “We will continue to sustainably improve our cost structure. We have already made important progress in this area, and now it is important not to let up. The increased cooperation within the Core brand group helps us with this.”

TAGGED:Core brandID. Buzz GTXVolkswagen Commercial VehiclesVolkswagen Group

Sign Up For Daily Newsletter

Stay Updated! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp LinkedIn VKontakte Telegram Email Copy Link Print
Share
ByItumeleng Garebatshabe
Editor
Follow:
Itumeleng is the Managing Editor of The Auto Magazine. He is a tech and car enthusiast

Follow US

FacebookLike
XFollow
InstagramFollow
YoutubeSubscribe
TiktokFollow
TelegramFollow
Google NewsFollow
LinkedInFollow
- Advertisement -
Ad imageAd image

You Might Also Like

Latest News

Volkswagen Group with mixed start to FY 2025

By Itumeleng Garebatshabe
May 2, 2025
Latest News

Volkswagen Group taps into new profit pools with sustainable mobility

By Itumeleng Garebatshabe
September 6, 2023
Latest News

Volkswagen and Mahindra sign supply agreement

By Itumeleng Garebatshabe
February 20, 2024
Latest News

Structural and personnel realignment at CARIAD

By Itumeleng Garebatshabe
May 8, 2023
Latest News

Volkswagen Group with solid FY 2024 results and a robust outlook

By Itumeleng Garebatshabe
March 13, 2025
Latest News

Mechatronics apprentice named Volkswagen Group Africa’s Best Apprentice

By Itumeleng Garebatshabe
July 5, 2024

The Auto Magazine

  • Advertise
  • About Us
  • Contact
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
  • Bikes
  • Electric Vehicles
  • Trucks & Buses
  • Auto Shows
  • Latest News
  • Motosport

Made by Intellegere Media. All rights reserved. 2023

Don't not sell my personal information
Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc.

Zero spam, Unsubscribe at any time.
adbanner