#Brands

In 2024, Škoda Auto manufactured over 925,000 vehicles at its global production facilities, a year-on-year increase of 4.2%. Additionally, the company produced more than 280,000 battery systems for electric and plug-in hybrid vehicles across the Volkswagen Group, over 1 million transmissions and nearly 500,000 engines.

The Volkswagen Group is strengthening its charging and fueling services through the merger of LOGPAY Transport Services GmbH, a subsidiary of Volkswagen Financial Services AG, and the mobility service units of Volkswagen Group Charging GmbH (Elli). This strategic merger lays the foundation for future growth by offering seamless mobility services and an expanded range of solutions to both business and private customers transitioning to e-mobility. The newly established Elli Mobility GmbH, as a result of this merger, will operate as a wholly owned subsidiary of Volkswagen Group Charging GmbH (Elli) starting (expected) in March 2025.

The TRATON GROUP kept unit sales at a stable level in 2024, despite a difficult market environment. According to preliminary data, the four brands Scania, MAN Truck & Bus, International (formerly Navistar), and Volkswagen Truck & Bus sold a total of 334,200 vehicles, a slight year-on-year decline of 1% (338,200).

Audi delivered around 1.7 million vehicles worldwide in 2024. More than 164,000 of those were fully electric models. Reasons for this overall decline of almost 12 percent (8 percent for fully electric models) compared to the previous year included the challenging economic conditions, an intensely competitive market, and limited availability of parts. In addition, the new product portfolio is only gradually having an impact on global sales volumes.

In 2024, Porsche AG comprehensively renewed its product range, with a generation change for four out of the six model lines: the Panamera, Taycan, 911 and Macan. Porsche has grown in four out of five world regions and achieved historic records. The share of electrified sports cars increased from 22 to 27 per cent. Almost half of them were purely electric vehicles.

Despite strong headwinds, Volkswagen delivered around 4.8 million vehicles to customers worldwide last year (1.4 per cent fewer than in the previous year). Volkswagen was again the clear market leader in Germany with a market share of 19.1 per cent, according to the German Federal Motor Transport Authority (KBA).

The Group comprises ten brands from five European countries: Volkswagen, Volkswagen Commercial Vehicles, ŠKODA, SEAT, CUPRA, Audi, Lamborghini, Bentley, Porsche and Ducati. In addition, the Volkswagen Group offers a wide range of further brands and business units including financial services. Volkswagen Financial Services comprises dealer and customer financing, leasing, banking and insurance activities, and fleet management.

The newest member of the Volkswagen portfolio – the Tayron – was given a grand reception this week when employees from nearly all the different disciplines joined Wolfsburg Plant Manager Uwe Schwartz and Works Council member Jürgen Mahnkopf for the symbolic start of series production.

In the execution of its TRATON Way Forward Strategy, TRATON has taken another important step by strengthening its Executive Board with a focus on Research & Development (R&D). The Supervisory Board of the company decided to appoint Niklas Klingenberg, Head of TRATON GROUP R&D, to the Executive Board as of January 1, 2025.

One year since its inception, TRATON Charging Solutions has made significant strides in its mission to provide comprehensive and seamless charging solutions for commercial vehicles across Europe. As the dedicated eMobility Service Provider (eMSP) within the TRATON GROUP, which includes renowned brands Scania, MAN, International, and Volkswagen Truck & Bus, TRATON Charging Solutions has focused on enabling a smooth and efficient charging experience tailored to the unique needs of commercial vehicle operators.

The Audi Group's financial performance in the first nine months reflects the challenging macroeconomic situation. This includes a difficult market environment and expected restructuring expenses, for example as a result of a possible alternative use or a possible plant closure of the Brussels site. In the first nine months of 2024, revenue amounted to €46.3 billion, operating profit was €2.1 billion, and net cash flow amounted to €3.8 billion. The Progressive* brand group delivered a total of 1,251,381 vehicles from January to September, including 115,788 all-electric models. Audi is currently launching electric models and highly efficient combustion-engine vehicles in important core model series as part of a major product initiative. With the Audi Agenda, the company is also increasing its competitiveness and improving its processes and organizational structures.

SEAT S.A. achieved an operating profit of 415 million euros between January and September 2024. These results were 17.2% lower than for the same period of the previous year (501 million euros), in a challenging economic environment affecting the global automotive industry. Furthermore, 2024 has been a pivotal year for the company, marked by substantial investment to support several major launches for the CUPRA brand’s range of BEVs and PHEVs as the company drives forward its transformation toward electrification.

Škoda Auto maintains its positive momentum: deliveries to customers in the first nine months of 2024 increased to 671,300 vehicles (+4.5% YoY). This growth was supported by a strong third quarter, with 222,700 vehicles delivered (+6%). The automaker is performing particularly well in Europe, outpacing the overall European market. The company’s financial figures underscore its position of strength: revenue increased to €20.4 billion (+3.8%), operating profit rose by 34.8% to €1.7 billion, and the return on sales (RoS) reached 8.3% (6.4%). The most successful markets in terms of absolute growth in the first three quarters are Germany, Turkey, the United Kingdom, Poland, and France. The all-electric Enyaq remains one of the best-selling BEVs overall in key markets like Germany, where it also ranked first among electric cars in September. This result makes the Enyaq the second best-selling electric car in Germany in the first nine months of 2024. Škoda has solidified its position as the fourth best-selling brand in Europe. It aims to build on this success: the recently launched all-electric compact SUV, Elroq, stands out as the most affordable EV in its class, taking into account its extensive standard equipment and battery size. In a first for the brand, sales began immediately after its premiere.

In a year shaped by a persistently weak economic environment, more intense competition and political challenges, the Brand Group Core continues to concentrate in 2024 on successful model ramp-ups and execution of the performance programs in the various brands.