October 28, 2020

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    The Volkswagen brand is going to launch 34 new models globally next year, consisting of twelve SUVs and eight electric or hybrid vehicles.

    Volkswagen COO Ralf Brandstätter commented: “We are at the beginning of a new era. We mean business with e-mobility. The brand will be spending €19 billion in future technologies through 2024, €11 billion alone in the further development of e-mobility. And Volkswagen starts the biggest electric offensive in the automotive industry in 2020: The ID.31 goes on sale in the summer, soon followed by the ID.Next2, our first electric SUV. Our ID. family makes emission-free mobility accessible to many people for the first time. That is New Volkswagen.”

    The brand still stands by its commitment to the Paris climate goals. Vehicles and the company are to obtain a carbon-neutral balance by 2050. CO2 emissions from production are to be lowered by 50% by 2025. Volkswagen is well on the way in this respect much because of its electric offensive.

    The digital transformation roadmap is a significant stepping stone for the company in its modernization and digitalization efforts. Signed off in this year, the roadmap follows on from the pact for the future and concentrates in particular on further enhancements in competitiveness and revenues power over the coming years. It also lays the groundwork for boosting the software expertise of the brand and the company. By 2025, the in-house share of car software development and vehicle-related services is to increase from under ten percent today to at least sixty percent.

    This year sees the Volkswagen brand in the homestretch. COO Brandstätter highlighted the strong team performance: “In a shrinking overall market, the Volkswagen brand has won market shares worldwide and highly improved its operating result. Ongoing restructuring of the core business, including the positive effects of the pact for the future, and the success of the worldwide SUV offensive have been key to this achievement. Improved revenues in the regions and successful WLTP management have been just as important.”

    The pact for the future signed in 2016 is also providing results. Some €2.6 billion of the planned €3 billion cost savings will have already been achieved by the end of this year.

    CFO Arno Antlitz stated: “Our plan is gaining a foothold. Our vehicles are convincing customers and our consistent discipline with respect to costs and investments is having a positive impact. We, therefore, confirm our target of an operating return on sales of four to five percent for the full year 2019 in a difficult market environment. As announced, we expect to generate cash flow from operating activities significantly in excess of one billion euros in 2019. Our financial targets for 2020 remain unchanged. Additionally, we reaffirm our targets for 2022 of an operating return on sales of at least six percent and cash flow in excess of 2 billion euros.”

    Production has also become more efficient in this year, with the brand exceeding its yearly productivity improvement target of five percent. The improvement by the end of the year is expected to be over seven percent.

    Last, but not least, this year was a successful year for vehicle premieres: In particular, the Golf 8 and ID.3, and also the T-Cross, Teramont3, T-Roc R4, and T-Roc Cabrio5, were extremely well received by the public.

    1. ID.3.: The vehicle is not currently available for sale in Europe.
    2. ID.Next: Study.
    3. Teramont: Currently not for sale in Germany.
    4. T-Roc R: Fuel consumption, l/100 km: urban 9.5 – 9.1, extra-urban 6.6 – 6.5, combined 7.7 – 7.5; CO2 emissions combined in g/km: 176 – 171; efficiency class: D.
    5. T-Roc Cabriolet: The vehicle is not currently available for sale.

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