Volkswagen brand with effective crisis management in the first half of the year
Volkswagen brand’s business witnessing a noticeable recovery recently
Deliveries by the Volkswagen brand in March and April were down around 38 percent on the respective months of the previous year. This development was also reflected in the operating result before special items, which nearly reached the break-even point once again in the single month of June. For July, the brand expects deliveries to fall short of the prior-year figure by only a single-digit percentage.
Continuation of effective countermeasures
Despite initial signs of a recovery, the further development of the Covid-19 pandemic remains difficult to forecast. The brand will therefore maintain its effective countermeasures and continue to strictly prioritize investments and place the strongest focus on expenditure discipline. For 2020 as a whole, the brand anticipates sales revenue to be significantly below prior-year level.
Model initiative in full swing, ID.3 gets off to a promising start
The Volkswagen brand is expanding its attractive product portfolio notwithstanding the Covid-19 pandemic, systematically showcasing a whole range of new models in all segments. Since June, customers have been able to place orders for the new ID.3, the first model to be based on the Modular Electric Drive Matrix (MEB). Other important models such as the new Tiguan and the new Arteon family have also been launched. The brand will press ahead with the electrification of its portfolio by rolling out multiple plug-in hybrid models in the coming months. Model variants of the new Golf, the new Tiguan, the new Arteon family and the Touareg will be available with this drive system in the future.
Aug 01, 2020 at 00:17