Here are the main insights from Volkswagen’s conference call;
- Volkswagen said its Q1 results will likely be lower than the overall guidance for 2024 due to the current supply headwinds facing Audi and the new product launches.
- Volkswagen expects 2024 deliveries to grow by 3% (2023:+12%) due to tougher competition and supply chain problems.
- Volkswagen said it’s willing to give up market share in China between now and 2026 and guided for proportionate operating profit of its China joint ventures of between 1.5 billion and 2 billion euros (2023: 2.6 billion euros).
- It pointed out that volume was the main contributor for sales growth in 2023.