Volkswagen Commercial Vehicles (VWCV) has revealed its financial results for 2024 – a year that the company has described as a solid result.

The German manufacturer reported total sales revenue of €15.12 billion, which is down only 1.3 per cent on 2023 – this despite a 4 per cent decrease in sales and constant delivery figures.

Operating profit fell 14.9 per cent to €743 million (previous year: €873 million) due to restructuring measures but remained significantly above the result of 2022 (€527 million).

This result is considered solid by VWCV especially when considering it launched a trio of new VW Bus vehicles (ID. Buzz, Multivan and new Transporter) and now has what it calls ‘the best product portfolio in its history’.

“We had announced that there would be a host of new models for 2024 – and we delivered,” said Carsten Intra, Chairman of the VWCV Brand Board of Management, summarising the model year.

In March, VWCV presented another derivative of the all-electric VW Bus with the ID. Buzz GTX, followed in May by the all-new California based on the Multivan.

“In addition to the premieres, there were updates for almost all other models – from the innovative 4Motion in the Multivan to the Caddy in the PHEV version and the new Crafter. We now have the best product offering for our business and leisure customers,” Carsten added.

Chief Finance Officer Michael Obrowski said: “Our customers value the wide product range and the new, higher-quality equipment.”

Sales revenue therefore remained constant at €15.12 billion last year (previous year: €15.33 billion), despite a slight decline in sales of 4 per cent to 404,000 vehicles.

Michael continued: “The restructuring expenses as part of our GRIP programme have had a significant impact on the operating result, which fell to 743 million euros (previous year: 873 million euros). These expenses are an investment in our future, as they will sustainably improve our cost situation.”

Looking ahead to 2025, VWCV will be focussing on the internationalisation of some of its product range, as Member of the Brand Board of Management for Sales, Marketing and Aftersales Lars Krause, explained: “We have just brought the ID. Buzz to North America – the bus is back.

“This year we are launching in new markets, mainly in the Asia region – for example, Australia, New Zealand, Hong Kong or Indonesia. This expansion will make an important contribution to increasing the all-electric share in our fleet. In 2025, we will achieve a double-digit percentage of our deliveries with our all-electric ID. Buzz, Transporter and Caravelle.”

2025 will also be the 75^th anniversary of the VW Bus, which VWCV will be marking in various ways throughout the year and celebrating the evolution of the vehicle from its beginnings to its present-day offering.

Photo: Volkswagen Commercial Vehicles