31.7.2020. Global Covid-19 in the first half of 2020 outbreak, the influenced the development of the business of Volkswagen Passenger Cars brand. Effective counter-measures, has reduced the impact of the crisis, however, has been. Therefore, it was possible, tight cost management, material costs, overhead costs, thanks to R & D expenses and capital expenditures, decrease compared to the same period of the previous year.
In addition, the production is aligned to the demand of the customers continuously, and as a result, the previous year’s stocks has been significantly reduced as a result. The main brand of the Volkswagen Group deliveries fell 26.7 per cent in the first half of the year to 2.2 million vehicles by 2020. Revenues (-35,3%) of 29 billion euros fell to 16 billion euros. As a result, the operating result before special items 1.5 billion (previous year: 2.3 million euros fell.
Alexander Seitz Volkswagen brand, chief financial officer, this Covid-19 on the outbreak of the year in the first half of Volkswagen’s put in front of unprecedented challenges and has a strong impact on the financial performance said:”. So discipline and tight cost measures such as the projects on the priority of property in our costs to reduce R & D expenditures and investments have been made. An outstanding team performance so far from the crisis staff and management of stable brands to check out. We are stronger financially, and we work a positive operating result for the year total. Because the full power of our model offensive will be revealed in the second half of the year, we hope to wind back.“
Volkswagen brand in the business is felt in the format that is recovering
Deliveries of the Volkswagen brand in the month of March and April of the previous year and 38 percent in six months and steadily packed since it was around 18 per cent to June. This development also operating profit before special items reflected a single month was almost achieved in 2009 for a break. For July, only the residue of last year to the same month of the brand single-digit percentage for a delivery is expected.
Effective measures against it continue to work
Despite the first signs of recovery,the further development remains Covid -19 epidemic is difficult to predict. Therefore more effective measures against priority and strictly protect the investment of the brand, and also pays the most attention to issue discipline to put. The brand expects revenues to be below the previous year’s level, largely for 2020. The operating result before special items below the value of serious 2019, but is expected to be in the positive range.
The attack model is in full swing, identity.A promising start with 3
The Volkswagen brand’s attractive product to expand its portfolio of epidemic-19 Covid, in spite of constantly in every field continues with the introduction of numerous new models. Battery-Hybrid-electric vehicles and plug form an important focus in the direction of the brand. New ID.(MDBs) system the modular drive the modular e 3 can be ordered for customers since the month of June, based on the first model. In addition, the Arteon new family, new Tiguan and other models began with important. In the further course of this year this will be supplemented by additional variants of the new Golf family.
The brand in the coming months, many hybrid plug-in pushing forward with the introduction of electricity to its portfolio. The new golf, the new Tiguan, the Touareg Arteon new family and, in the future, the existing infrastructure of this type of variants. In South America, new vehicle new crossover (SAFE), was celebrated, also, successfully performed the world premiere of nivus in the small car segment. China is also the largest single brand Sunday, VS7 and Jetta models presentation model with GTE was to continue the attack successfully vilora Tayron.
In general, the Volkswagen brand’s numbers:
Jan. – June
2020
Jan. – June 2019
Change
Deliveries
(incl. China)
2.198.900
2.998.200
-26.7% s
Paragraph
1.134.000
1.886.000
-39,8%
Revenues
(€million)
28.580
44.146
-35,3%
Operating profit* (million €)
-1.491
2.286
Net Cash Flow*
(€million)
-3.705
1.568
* before special items
Deliveries to customers by market
Jan. – June
2020
Jan. – June 2019
Change
Western Europe
478.200
790.100
-39.5% s
Central and Eastern Europe
92.600
131.900
-29,9%
North America
208.400
281.300
-25,9%
South America
Of 148.000
226.600
-34,7%
China (incl. HK)
1.167.800
1.429.800
-18,3%
Rest Of Asia-Pacific
52.100
71.700
-27,4%
Middle East/Africa
51.800
66.800
-22,4%
Total brand
2.198.900
2.998.200
-26.7% s
(Source: Volkswagen AG)
