Volkswagen is world number two in the automobile industry behind Toyota. The group sold 10% more cars in 2023 than the previous year: 9.4 million exactly.
Turnover has also increased. It reached 322.3 billion euros, or 15% more than in 2022. But the operating profit remained desperately flat at 22.6 billion euros due to the negative hedging effects on raw materials for a amount of 3.2 billion euros. As a result, group's operating margin was reduced by one point, reaching only 7%.