{"id":26069,"date":"2020-10-30T23:00:00","date_gmt":"2020-10-30T23:00:00","guid":{"rendered":"https:\/\/www.volkswagen.es\/2020\/10\/30\/volkswagen-brand-recovers-from-covid-19-slump-in-third-quarter-and-confirms-outlook\/"},"modified":"2021-05-18T14:50:30","modified_gmt":"2021-05-18T14:50:30","slug":"volkswagen-brand-recovers-from-covid-19-slump-in-third-quarter-and-confirms-outlook","status":"publish","type":"post","link":"https:\/\/www.volkswagen.es\/comunicacion\/volkswagen-brand-recovers-from-covid-19-slump-in-third-quarter-and-confirms-outlook\/","title":{"rendered":"Volkswagen brand recovers from COVID-19 slump in third quater and confirms outlook"},"content":{"rendered":"

Alexander Seitz, CFO of the Volkswagen brand: \u00abDespite the ongoing challenges from the Covid-19 pandemic, the brand returned to profitability in the third quarter. This is above all due to the systematic measures taken to cut costs and secure liquidity and the dedicated efforts of our employees, who gave their all to catch up on the backlog following the temporary shutdown in spring. Thanks to our strong product substance, we are gaining market share in many regions. In the final quarter, we are doing everything in our power to get the brand’s full-year operating result into positive territory.\u00bb<\/p>\n

Gradual recovery of business continues<\/strong><\/p>\n

The gradual recovery in delivery figures after the significant falls at the beginning of the year continued in the course of the third quarter. While the Volkswagen Passenger Cars brand recorded single-digit percentage declines in July and August compared with the prior-year months, in September the brand was already almost at the previous year’s level, at -0.7 percent. The drivers of the gradual improvement in sales are in particular the new compact electric vehicle, the ID.31, of which around 20,000 units have already been delivered, as well as the brand’s plug-in hybrids, which are in high demand, and the significant pick-up in demand for the Golf 8.<\/p>\n

Continuation of effective countermeasures<\/strong><\/p>\n

Despite signs of a recovery, the further development of the Covid-19 pandemic remains difficult to forecast. The brand will therefore continue the strict cost management measures it has initiated. In this way, it successfully reduced fixed costs in the first nine months compared with the prior-year period. For 2020 as a whole, the brand still anticipates deliveries and sales revenue to be significantly below the prior-year level. The operating result before special items is expected to be severely lower than in 2019, but still positive.<\/p>\n

Electric mobility offensive continues in fourth quarter<\/strong><\/p>\n

Following the market introduction of the all-electric ID.3 in September, the Volkswagen brand will continue to roll out its successfully launched e-offensive in the fourth quarter. Customers can already place orders for the ID.42, the second model to be based on the Modular Electric Drive Matrix (MEB). Being an all-electric SUV, the ID.4 has been designed as a world car, which is to be built and sold in all key regions of the world – Europe, North America, China. In addition, the brand is driving the electrification of its portfolio by launching a significant number of plug-in hybrids: PHEV versions of the new Golf and the Touareg can already be ordered. Electrified derivatives of the new Tiguan3 as well as the new Arteon3 and Arteon Shooting Brake3 will follow shortly. In addition, PHEV versions of the Passat4 and Passat Variant5 have also been available for a while now.<\/p>\n

\n\n\n\n\n\n\n\n\n
<\/font><\/b><\/p>\n

Key figures for the Volkswagen brand: Jan. \u00bb Sep. 2020 <\/font><\/b><\/td>\n

<\/b><\/p>\n

Jan. \u00bb Sep. 2019 <\/font><\/b><\/td>\n

<\/b><\/p>\n

Change <\/b><\/font><\/td>\n<\/tr>\n

<\/font><\/b><\/font><\/p>\n

Deliveries (incl. China) <\/b><\/font><\/td>\n

<\/font><\/font><\/p>\n

3,674,300 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

4,514,600 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

\u00ab18.6% <\/font><\/font><\/td>\n<\/tr>\n

<\/font><\/b><\/font><\/p>\n

Vehicle sales <\/b><\/font><\/td>\n

<\/font><\/font><\/p>\n

1,630,000 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

2,344,000 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

\u00ab30.5% <\/font><\/font><\/td>\n<\/tr>\n

<\/font><\/b><\/font><\/p>\n

Sales revenue (\u20ac million) <\/b><\/font><\/td>\n

<\/font><\/font><\/p>\n

47,184 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

65,447 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

\u00ab27.9% <\/font><\/font><\/td>\n<\/tr>\n

<\/font><\/b><\/font><\/p>\n

Operating result* (\u20ac million) <\/b><\/font><\/td>\n

<\/font><\/font><\/p>\n

\u00ab969 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

3,152 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

x <\/font><\/font><\/td>\n<\/tr>\n

<\/font><\/b><\/font><\/p>\n

Net cash flow* (\u20ac million) <\/b><\/font><\/td>\n

<\/font><\/font><\/p>\n

\u00ab1,711 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

2,425 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

x <\/font><\/font><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/font><\/p>\n

* before special items <\/font><\/p>\n

 <\/font><\/p>\n\n\n\n\n\n\n\n\n\n\n\n
<\/font><\/b><\/font><\/p>\n

Deliveries to customers by market <\/b><\/font><\/td>\n

<\/font><\/b><\/font><\/p>\n

Jan. \u00bb Sep. 2020 <\/b><\/font><\/td>\n

<\/font><\/b><\/font><\/p>\n

Jan. \u00bb Sep. 2019 <\/b><\/font><\/td>\n

<\/font><\/b><\/font><\/p>\n

Change <\/b><\/font><\/td>\n<\/tr>\n

<\/font><\/b><\/font><\/p>\n

Western Europe <\/b><\/font><\/td>\n

<\/font><\/font><\/p>\n

794,300 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

1,123,100 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

\u00ab29.3% <\/font><\/font><\/td>\n<\/tr>\n

<\/font><\/b><\/font><\/p>\n

Central and Eastern Europe <\/b><\/font><\/td>\n

<\/font><\/font><\/p>\n

156,800 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

197,400 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

\u00ab20.6% <\/font><\/font><\/td>\n<\/tr>\n

<\/font><\/b><\/font><\/p>\n

North America <\/b><\/font><\/td>\n

<\/font><\/font><\/p>\n

332,900 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

425,700 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

\u00ab21.8% <\/font><\/font><\/td>\n<\/tr>\n

<\/font><\/b><\/font><\/p>\n

South America <\/b><\/font><\/td>\n

<\/font><\/font><\/p>\n

264,800 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

358,500 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

\u00ab26.1% <\/font><\/font><\/td>\n<\/tr>\n

<\/font><\/b><\/font><\/p>\n

China (incl. HK) <\/b><\/font><\/td>\n

<\/font><\/font><\/p>\n

1,954,100 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

2,197,600 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

\u00ab11.1% <\/font><\/font><\/td>\n<\/tr>\n

<\/font><\/b><\/font><\/p>\n

Rest of Asia-Pacific <\/b><\/font><\/td>\n

<\/font><\/font><\/p>\n

86,500 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

109,200 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

\u00ab20.8% <\/font><\/font><\/td>\n<\/tr>\n

<\/font><\/b><\/font><\/p>\n

Middle East\/Africa <\/b><\/font><\/td>\n

<\/font><\/font><\/p>\n

84,900 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

103,100 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

\u00ab17.6% <\/font><\/font><\/td>\n<\/tr>\n

<\/font><\/b><\/font><\/p>\n

Brand overall <\/b><\/font><\/td>\n

<\/font><\/font><\/p>\n

3,674,300 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

4,514,600 <\/font><\/font><\/td>\n

<\/font><\/font><\/p>\n

\u00ab18.6% <\/font><\/font><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\n","protected":false},"excerpt":{"rendered":".Third-quarter deliveries almost on a level with previous year;year-to-date decline of 18.6 percentSales revenue of EUR 47.2 billion in the first nine months; rate ofyear-on-year decline has narrowed to \"27.9 percent after threequartersReturn to profitable","protected":false},"author":1,"featured_media":26071,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"footnotes":""},"categories":[279],"tags":[],"class_list":["post-26069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporativo"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.volkswagen.es\/comunicacion\/wp-json\/wp\/v2\/posts\/26069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.volkswagen.es\/comunicacion\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.volkswagen.es\/comunicacion\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.volkswagen.es\/comunicacion\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.volkswagen.es\/comunicacion\/wp-json\/wp\/v2\/comments?post=26069"}],"version-history":[{"count":2,"href":"https:\/\/www.volkswagen.es\/comunicacion\/wp-json\/wp\/v2\/posts\/26069\/revisions"}],"predecessor-version":[{"id":50530,"href":"https:\/\/www.volkswagen.es\/comunicacion\/wp-json\/wp\/v2\/posts\/26069\/revisions\/50530"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.volkswagen.es\/comunicacion\/wp-json\/wp\/v2\/media\/26071"}],"wp:attachment":[{"href":"https:\/\/www.volkswagen.es\/comunicacion\/wp-json\/wp\/v2\/media?parent=26069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.volkswagen.es\/comunicacion\/wp-json\/wp\/v2\/categories?post=26069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.volkswagen.es\/comunicacion\/wp-json\/wp\/v2\/tags?post=26069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}