Volkswagen Group announced on Friday that its vehicle sales had risen by 11.8% in 2023, to 9.24 million units, a performance driven in particular by the strong performance of its Audi brand.
At regional level, deliveries to Europe jumped by 20.6%, ahead of North America (+17.9%), while those to China rose by just 1.6%, relegating this market to second place behind the Old Continent.
The German manufacturer points out that sales of the Volkswagen brand totalled 4.87 million units last year, an increase of 6.7%.
Its top-of-the-range Audi brand sold 1.89 million cars, an increase of 17.4%.
This performance makes Audi the third best-selling luxury brand in the world, behind BMW (2.25 million) and Mercedes-Benz (2.04 million).
The Skoda (+18.5%) and Seat/Cupra (+34.6%) brands also performed well, with 866,800 and 519,200 registrations respectively last year.
With 771.100 units, Volkswagen Group sales of electric vehicles (BEVs) were up 34.7% on the previous year, and now account for 23.5% of the automaker's total sales.
The share price was down by more than 0.5% on the Frankfurt Stock Exchange on Friday, while the index of European automotive stocks was down by 0.1%
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Volkswagen AG is a Germany-based company, which manufactures and sells vehicles. The Group consists of two divisions: the Automotive Division and the Financial Services Division. The Automotive Division comprises the Passenger Cars, Commercial Vehicles and Power Engineering business areas. This division focuses on the development of vehicles, engines and vehicle software, the production and sale of passenger cars, light commercial vehicles, trucks, buses, and motorcycles, as well as businesses for genuine parts, large-bore diesel engines, turbomachinery, and propulsion components. The Financial Services Division focuses on dealer and customer financing, leasing, direct banking, and insurance activities, fleet management and mobility services. Its brand portfolio includes Volkswagen, Audi, SEAT, SKODA, Bentley, Lamborghini, Porsche, Ducati, Volkswagen Commercial Vehicles, Scania, and MAN.