Volkswagen Group to Report Second Quarter Results

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Volkswagen Group is set to announce its second-quarter results on Thursday. Here are the key details:

Sales Forecast

According to a poll by Factset, analysts expect Volkswagen to report approximately €80.25 billion ($88.72 billion) in revenue. In the second quarter of 2022, Volkswagen achieved sales of €69.54 billion.

After-Tax Profit Forecast

The consensus from Factset suggests that Volkswagen’s after-tax profit will reach €3.91 billion, indicating stable earnings compared to the previous year.

What to Watch


Volkswagen’s performance in China is concerning as it faces tough competition from local battery-electric vehicle manufacturers and experiences falling prices due to ample competition. Bernstein analysts are skeptical about Volkswagen’s ability to reach its 2023 targets, especially considering the lackluster rebound of the Chinese market after the government lifted pandemic restrictions.

Progress Toward Targets

Analysts view Volkswagen Group’s targets as ambitious, particularly due to market-share loss in China. The upcoming earnings report will provide insights into the company’s progress towards its full-year goals. Volkswagen aims for revenue growth between 10% and 15%, with an operating return on sales between 7.5% and 8.5%. While the auto industry has experienced some positive developments, it remains uncertain if the successes of the first quarter will be replicated in the second.


Volkswagen Group has shifted its focus from volume to value, granting more autonomy to its brands for strategizing and meeting targets. Additionally, the Volkswagen brand has initiated a cost-cutting program announced in June, aiming to save €10 billion by 2026.

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