Europe’s largest carmaker, Volkswagen, reported a 30.6% drop in net profit for the 2024 financial year. The company sold 9 million cars worldwide, down 2.3% from 9.2 million in 2023.
Sales growth in South America could not offset losses in the Chinese market. Sales in North America and Europe remained stable compared to the previous year.
Although turnover increased slightly last year to 324.7 billion euros (+1%), profit after tax fell sharply. If it amounted to 17.8 billion euros in 2023, it is now 12.3 billion euros.
CFO Arno Antlitz considered this a good result: “In a difficult competitive environment, we managed to achieve decent results in 2024.”
