Brand Groups and Business Fields

In 2025, the Volkswagen Group’s sales revenue and unit sales figures were on a level with the previous year, despite the challenging market environment. The operating result was negatively impacted in particular by expenses in connection with US import tariffs, Porsche’s adjusted product planning and impairment losses on goodwill at Porsche.

Sales Revenue and Operating Result by Brand Group and Business Field

The Volkswagen Group generated sales revenue of €321.9 (324.7) billion in the period from January to December 2025. The operating result stood at €8.9 (19.1) billion.

In fiscal year 2025, the Core brand group sold €5.1 (5.0) million vehicles. Sales revenue rose to €145.2 (140.0) billion. The operating result amounted to €6.8 (7.0) billion.

Unit sales for the Volkswagen Passenger Cars brand in the reporting year were on a level with the previous year, at €3.1 (3.1) million vehicles. The T-Roc recorded growth, and the Tiguan also continues to enjoy a high level of popularity. In addition, the all-electric ID.3, ID.4 and ID.7 models performed favorably. The Tayron was successfully launched on the market. Sales revenue amounted to €86.6 (88.3) billion. At €2.6 (2.6) billion, the operating result was on a level with the prior-year figure, which had been influenced by higher expenses for restructuring measures. In the reporting year, high expenses mainly related to US import tariffs and to the recognition of provisions in connection with CO₂ fleet regulations had a negative impact. Positive impacts primarily came from lower fixed costs resulting from systematic implementation of the performance programs and the entry into force of the collective bargaining agreement from December 2024.

REPORTING STRUCTURE OF THE VOLKSWAGEN GROUP

Škoda sold a total of 1.2 million vehicles in the reporting year, an increase of 7.6% year-on-year. Demand was high for the all-electric Elroq and Enyaq SUVs in particular, making Škoda one of the most successful automakers in the European BEV segment. Unit sales of the Kodiaq also rose. Sales revenue increased by 8.3% to €30.1 billion. The operating result stood at €2.5 (2.3) billion, with the 8.5% increase on the prior-year figure attributable to higher volumes as well as further cost optimization.

Unit sales at SEAT/CUPRA came to €657 (637) thousand vehicles in the period from January to December 2025. The figure includes the A1 manufactured for Audi. The CUPRA model portfolio accounted for a large proportion of this growth. In particular the all-electric CUPRA Born and CUPRA Tavascan saw higher demand compared with the prior year. In addition, unit sales of the CUPRA Terramar and CUPRA Leon rose. At €15.3 billion, sales revenue was up 5.1% year-on-year. The operating result declined to €1 (633) million. Amid a challenging market environment, adverse factors arose from changes in the sales mix, EU tariffs on the CUPRA Tavascan produced in China and higher product costs, among other things.

In fiscal year 2025, unit sales of Volkswagen Commercial Vehicles increased to €428 (404) thousand units worldwide. The all-electric ID. Buzz recorded growth. The New Transporter developed in collaboration with Ford enjoyed a successful market launch. At €16.9 (15.1) billion, sales revenue was above the prior-year figure. The operating result fell to €245 (743) million, which was attributable in particular to changes in the sales mix and the recognition of provisions in connection with CO₂ fleet regulations.

In the period from January to December 2025, sales revenue at Tech. Components amounted to €22.5 (20.6) billion. Due to volume and mix effects as well as to lower factory costs, the operating result of €1.5 (0.7) billion was higher than in the previous year, in which expenses for restructuring measures had to be recognized.

Unit sales at the Progressive brand group (Audi, Bentley, Lamborghini, Ducati) came to €1.1 (1.1) million vehicles globally in the reporting year. The A5 model series and the all-electric Q6 e-tron recorded growth in particular. The successors to the Q3 and Q5 as well as the A6 and the all-electric A6 e-tron were successfully introduced. Ducati sold €50.7 (57.4) thousand motorbikes in the reporting year. Sales revenue of the Progressive brand group amounted to €65.5 (64.5) billion. The operating result was influenced by expenses related to US import tariffs, restructuring measures and provisions in connection with CO₂ fleet regulations, as well as by numerous model changes and changes in the planning of the product portfolio, and amounted to €3.4 (3.9) billion.

The Sport Luxury brand group (Porsche Automotive) sold €266 (313) thousand vehicles globally in fiscal year 2025. The Macan was the best-selling series. Sales revenue decreased to €32.2 (36.4) billion and the operating result declined to €0.1 (5.3) billion. This was mainly due to lower sales volumes attributable to the continuously challenging market situation in China, additional expenses connected with the realignment of the product strategy and battery activities, the increased impact of development activities on earnings, US import tariffs and higher material costs.

CARIAD’s sales revenue rose by €448 million to €1.8 billion in the period from January to December 2025. This was mainly attributable to the successful supply of software by CARIAD to the Group brands. Despite expenses for restructuring and technology replacement, the operating result improved by €251 million to €−2.2 (−2.4) billion due in particular to the systematic implementation of the CARIAD transformation program.

The Battery business field brings together the Group’s global battery activities, which relate to the future manufacture of battery cells and other activities along the battery value chain. As a result of the establishment of the business field, the operating result in the Battery business amounted to €−1.4 (−1.1) billion in the reporting year due mainly to fixed costs.

At €306 (335) thousand vehicles, unit sales by the Trucks brand group (Scania, MAN, International, Volkswagen Truck & Bus) were lower than in the previous year. Sales revenue contracted by 7.9% to €42.5 billion. The operating result declined to €2.4 (4.2) billion due in particular to volume factors.

The number of new financing, leasing, service and insurance contracts signed with Volkswagen Group Mobility in the reporting year stood at 10.6 (10.3) million. With credit eligibility criteria remaining unchanged, the penetration rate, expressed as the ratio of leased or financed vehicles to relevant Group delivery volumes, rose to 37.0 (34.1)%. At 27.8 (26.7) million, the total number of contracts at the end of December 2025 was higher than the figure for December 31, 2024. The number of contracts in the customer financing/leasing area amounted to 10.5 (10.2) million, and in the service/insurance area to 17.3 (16.5) million. On December 31, 2025, Volkswagen Bank managed 2.1 (1.9) million deposit accounts. The operating result rose to €3.5 (3.0) billion, due primarily to higher volumes and a favorable margin trend.

Unit Sales and Sales Revenue by Market

In the Europe/Other Markets region, the Volkswagen Group’s unit sales for fiscal year 2025 totaled €4.4 (4.2) million vehicles, up on the previous year. Sales revenue rose to €204.5 (194.1) billion, due mainly to volume growth and higher sales revenue in the Financial Services Division.

In the North American markets, the Volkswagen Group sold €0.9 (1.1) million vehicles in the reporting year. At €60.0 (67.7) billion, sales revenue was down year-on-year.

Unit sales in South America rose year-on-year to €669 (606) thousand vehicles in the period from January to December 2025. Sales revenue amounted to €19.0 (19.0) billion.

In the Asia-Pacific region, the unit sales of the Volkswagen Group – including those of the equity-accounted companies in China – amounted to €3.0 (3.1) million vehicles in the reporting year. Sales revenue declined to €38.2 (44.1) billion due to exchange rate-related factors, amongst other things. This figure does not include sales revenue from our equity-accounted companies in China.