WOLFSBURG / LONDON (IT BOLTWISE) – Volkswagen achieved surprisingly better results than expected in the third quarter. Sales of the Wolfsburg DAX group rose by 2.3 percent to 80.305 billion euros, while analysts had only forecast 76.747 billion euros. Despite an operating loss of 1.3 billion euros, the outlook for the year as a whole remains stable.
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Volkswagen achieved surprisingly better results in the third quarter of 2023 than many analysts expected. Sales of the Wolfsburg DAX group rose by 2.3 percent to 80.305 billion euros. This exceeded analysts’ consensus estimates, which on average had forecast just 76.747 billion euros. This positive sales development shows that Volkswagen remains in a strong position despite the challenges in the automotive sector.
However, the group had to accept an operating loss of 1.3 billion euros, after having achieved an operating profit of 2.833 billion euros in the previous year. The operating margin was minus 1.6 percent, which was better than the negative margin of 2.2 percent expected by analysts. These figures highlight the challenges Volkswagen faces, particularly in a market environment characterized by uncertainty and rising costs.
Despite the operating loss, Volkswagen reiterated its outlook for the full year. The group continues to target sales at the previous year’s level, while the operating return should be between 2 and 3 percent. This forecast demonstrates the company’s confidence in its ability to compete in a volatile market environment and remain profitable in the long term.
Volkswagen’s results are a reflection of the current challenges in the automotive industry. Rising raw material prices, supply chain issues and the shift to electric mobility are just some of the factors impacting the market. Nevertheless, Volkswagen shows with its solid sales development that it is able to face these challenges and maintain its market position.
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