Tag Archives: Group’s

Motorsport

Unique Lamborghini Aventador J, Rare Reventon Roadster Filmed Up Close

Lamborghini has been exceptionally productive in releasing limited-edition cars since becoming part of the Volkswagen Group in 1998. Recently, two of these exclusive vehicles were spotted being unloaded from a transport truck at the 2023 Supercar Owners Circle event in Marbella, Spain. A video captured the meticulous unloading process and showcased the cars being driven carefully up the alley, eventually making a stop on the lawn.

The more exclusive of the two vehicles is the Lamborghini Aventador J, and not just due to its value. This speedster is incredibly rare since Lamborghini produced only one unit. It was the first in a series of Aventador-based special editions and was revealed approximately a year after the original LP700-4. The Aventador J had a longer and lower design compared to the coupe and did not have a windscreen. Interestingly, the car was sold even before its official debut at the 2012 Geneva Motor Show.


Volkswagen

Elli at IAA 2023: Showcasing Elli’s new e-mobility products, and future projects

As Europe’s leading e-mobility service provider, Elli, a brand under the Volkswagen Group, will present its latest charging products and services at this year’s International Motor Show (IAA) in Munich. In addition, Elli will unveil its future plans and give a glimpse into upcoming advancements in energy innovation and its transition towards offering comprehensive energy solutions.

At the heart of Elli’s presentation at IAA is the Flexpole. This fast charging station, equipped with an integrated battery storage system, is easy to install and flexible. It can be connected to a low-voltage grid without the need for a special transformer or expensive construction work. The Flexpole features two connectors that can deliver fast-charging speeds of up to 150 kW, allowing for a range of up to 160 km to be achieved within just 10 minutes, depending on the vehicle.

“With the new Flexpole and our expanding charging network, which now consists of over 540,000 charge points, we are driving the expansion of e-mobility quickly and reliably. Elli is already one of Europe’s largest e-mobility service providers. However, we understand that customers are not only interested in quantity. That’s why we are dedicated to focusing on delivering a holistic charging experience,” explains Giovanni Palazzo, CEO of Elli, during the event in Munich.

To meet this goal, Elli provides its customers with access to the Selected Partner Network, a network of premium charging point operators chosen based on strict quality criteria. This network offers optimal charging stops, high-performance charging infrastructure with convenient on-site facilities such as cafés, restaurants, and sanitary facilities, along with excellent operational reliability. Customers enrolled in the Elli Drive Highway tariff also enjoy exclusive lower energy prices. Currently, the Selected Partner Network includes IONITY Europe, Audi charging hubs in Germany, Austria and Switzerland, and Ewiva in Italy, among others.

“Innovation in the charging and energy industry is crucial for the success of e-mobility and the decarbonization of society. In the future, Elli will place even greater emphasis on EV batteries as critical energy storage solutions, which will enable us to reduce our dependence on fossil fuels and better manage the availability of renewable energies. We call this strategy ‘Battery under management.’ Our aim is to become a software-driven energy company and a leading provider of comprehensive energy solutions,” adds Palazzo, referring to a significant milestone in the energy business.

Since July 2023, Elli has been actively participating in Europe’s largest energy trading exchange, EPEX. At the core of Elli’s operations on the exchange is an intelligent platform for trading, controlling, and optimizing battery storage. The platform automatically places bids on the energy exchange market, and the trading results are then used to charge or discharge the battery storage according to a predetermined schedule. By purchasing electricity during low-price phases, typically when renewable energy is abundant, and selling it during high-price phases with higher demand and less renewable energy, Elli not only generates trading revenues but also enhances the utilization of renewable energy. As part of a pilot project in Baunatal (Kassel), e-up! batteries are employed within a stationary battery storage center known as the “PowerCenter.” This initiative provides valuable insights for Elli in the development of a smart energy platform that can be applied to larger and more complex scenarios in the future.

For more information about Elli and to view related images, please visit www.elli.eco.

Motorsport

Jeep’s Growth Slows Down As It Waits For EVs

The integration of Fiat and Chrysler groups in 2009 led to the establishment of Fiat Chrysler Automobiles in 2014. Jeep has always been considered the cash cow of this manufacturer and has played a significant role in the rapid growth of the Italian-American automaker. With its positioning in the fastest-growing SUV segment worldwide, Jeep has been a major source of revenue. In 2012, Jeep accounted for 17 percent of the group’s global sales, selling 702,000 units. The brand experienced continuous growth, peaking at 1.57 million units in 2015 and representing a third of FCA’s global volume three years later.

Missed Goals

Despite ambitious goals set by Sergio Marchionne, the former CEO, Jeep failed to double its sales by 2022. The target was to sell between 2.7 and 2.8 million units; however, only 1.11 million vehicles were sold last year. The failure to reach these goals can be attributed to various factors, including delays in product launches, the impact of the pandemic, supply chain issues, the merger with PSA, and the rise of electric vehicles (EVs). Additionally, most of the new products scheduled for launch between 2018 and 2022 arrived after January 2021, and only one of the three promised EVs is currently available in the market.

Lowest Sales Since 2014

Last year, Jeep’s sales reached their lowest level since 2014, with 1.11 million units sold. This represented a 13 percent decrease from the previous year and even lower sales than during the 2020 pandemic, which stood at 1.23 million vehicles. The decline can be attributed to an aging product lineup, including models like Cherokee, Renegade, Compass, and Wrangler. Additionally, Jeep faced tough competition from the Tesla Model Y, which impacted its sales in the United States and Canada. These two markets accounted for 67 percent of Jeep’s global volume.

Jeep Needs Electric Vehicles

To revive Jeep’s success, it is crucial for Stellantis to introduce electrified products. As the demand for SUVs reaches its peak, automakers must adopt electric solutions to maintain relevance in this sector. With the Tesla Model Y becoming the best-selling passenger vehicle globally, Jeep, as a brand known for high-wheeled vehicles, should lead the way in the electric SUV segment. This requires introducing competitive electric products that stay true to the brand’s DNA and are timely launched in global markets. The recent success of the Jeep Avenger demonstrates the potential for success in this area.

Volkswagen

Brand Group Core Increases Returns and Operating Profit in First Half of 2023 – Moving Toward Greater Profitability

The Volkswagen Group’s Brand Group Core, consisting of Volkswagen, ŠKODA, SEAT/CUPRA, and Volkswagen Commercial Vehicles, saw increased efficiency and profitability in the first half of 2023. The improved cooperation between these sister brands contributed to the significant growth in operating profit and returns for the Brand Group Core. The Volkswagen Group aims to maximize the performance of its brand groups while taking advantage of economies of scale through its new steering model.

During this period, the Brand Group Core reported an operating result before special items of EUR 3.77 billion, a 42.5 percent increase compared to the same period in the previous year. The operating return on sales before special items also rose from 5.0 percent to 5.5 percent. Consolidated sales revenue increased by 30 percent to EUR 68.76 billion, and net cash flow reached EUR 2.56 billion, a 46.4 percent increase. These positive results were driven by synergies, scaling effects, pricing measures, and the deconsolidation of Russian companies, which offset higher commodity prices.

Unit sales by the Brand Group Core grew by 25 percent, with 2.45 million vehicles sold in the first half of 2023 compared to 1.96 million vehicles in the same period of the previous year. The brand group also experienced a significant increase in vehicle deliveries, with a total of 3.12 million vehicles handed over to customers, an 11.6 percent increase compared to the first half of 2022. Notably, the BEV segment showed strong growth, with 227,300 electric vehicles delivered, a 54.1 percent increase.

Thomas Schäfer, Member of the Volkswagen Group Board of Management responsible for the Brand Group Core, emphasized that although the first half of 2023 showed solid development, there is more work to be done to enhance efficiency and profitability. Schäfer highlighted the importance of intensified cooperation and leveraging synergy potential among the individual brands, the brand group, and the Volkswagen Group as a whole. He also emphasized that these efforts benefit the customers by enabling continued investment in innovations and technologies, leading to superior vehicles compared to the competition.

The key financial figures for the Brand Group Core in the first half of 2023 include:

Key financials H1 2023 H1 2022 Change 23/22
Unit sales 2,450,000 vehicles 1,956,000 vehicles +25%
Sales revenue EUR 68.76 billion EUR 53.01 billion +30%
Operating profit before special items EUR 3.77 billion EUR 2.65 billion +42.5%
Operating return on sales before special items 5.5% 5.0% +0.5%-points
Net cash flow EUR 2.56 billion EUR 1.75 billion +46.4%

The success of the Brand Group Core in the first half of 2023 can be attributed to the strategic development of the individual brands within the group.

The Volkswagen brand achieved a 25 percent increase in unit sales, from 1.22 million vehicles in the first half of last year to 1.52 million vehicles in 2023. However, higher product costs and a special charge related to Russia impacted the operating profit, which amounted to EUR 1.64 billion compared to EUR 1.86 billion in the same period in 2022. Sales revenue increased from EUR 33.32 billion to EUR 42.95 billion, but the operating return on sales before special items decreased by 1.8 percentage points to 3.8 percent.

ŠKODA Auto reported a strong first half-year, with an increase of 19.9 percent in unit sales, delivering 432,173 vehicles to customers worldwide. The company generated sales revenue of EUR 13.75 billion, a 34.5 percent increase over the same period in 2022. The operating profit before special items rose by 34.8 percent to EUR 911 million, maintaining a solid return on sales of 6.6 percent despite a special charge related to Russia.

SEAT/CUPRA achieved a significant rise in unit sales, with a growth of 35 percent and 317,395 vehicles sold. The company reported an operating profit of EUR 371 million, an increase of EUR 486 million from the first half of 2022. The return on sales in H1 reached 5.0 percent, and sales revenue rose to EUR 7.41 billion, a 37.8 percent increase compared to the first half of 2022.

Volkswagen Commercial Vehicles (VWN) continued its positive business development, with a 38 percent increase in unit sales to 211,747 vehicles. Sales revenue rose 47 percent to nearly EUR 7.42 billion, and the operating profit before special items reached EUR 448 million, compared to EUR 187 million in the first half of the previous year. Consequently, the return on sales increased from 3.7 percent to 6.0 percent in H1 2023.

Moving forward, the Brand Group Core will continue to focus on profitability and efficiency targets in the second half of 2023. The group aims to achieve a higher return on sales for the year and capitalize on economies of scale and synergies. In order to address ongoing challenges in e-mobility and energy supply, the individual brands will prioritize value-oriented production, cost discipline, and synergy utilization. Additionally, the improved availability of parts, including semiconductors, is expected to support the Brand Group Core’s efforts.

In conclusion, with ongoing growth and market share gains, the Brand Group Core aims to achieve a consolidated return on sales of 8 percent in the long term.

News

Volkswagen SSP EV platform to offer up to 1700bhp from 2026

Volkswagen Group CEO Oliver Blume has reaffirmed the company’s commitment to launch its comprehensive SSP (Scalable Systems Platform) electric architecture in 2026, despite potential delays to 2028/29 that were previously mentioned.

Blume stated that the architecture will cover a wide range of vehicles, from city cars to sports cars, with power exceeding 1700bhp. Initially, VW had planned for the SSP to handle around 1100bhp.

“The SSP architecture will balance the need for scale and standardization with differentiation and speed,” Blume emphasized.

The SSP architecture was initially announced in 2021 with a planned launch date in 2026, starting with Audi’s Artemis project. However, delays, particularly concerning the crucial software 2.0, caused development to be pushed back to 2028/29, as previously stated by executives like VW brand CEO Thomas Schäfer.

VW Group brands will share architecture modules across 40 million vehicles as part of their efforts to standardize parts and increase economies of scale, with the goal of reducing the high price of electric cars. Blume stated that “most” vehicles on the SSP platform will achieve profit margin parity with internal-combustion-engined cars, compared to only “some” on the group’s MEB electric car platform.

“Architectures cover up to 75% of all material costs for BEV, compared to up to 10% for ICE,” Blume explained. “Therefore, architectures are a key driver for profitability in the future.”

One component that will be shared across all models is the planned ‘Unified’ battery cell, which will be manufactured in future VW plants and can accommodate a range of chemistries, including the cost-effective LFP (lithium-iron-phosphate).

Blume also revealed new performance details about SSP cars, including a 10%-80% charging time reduced to an average of 12 minutes, compared to the existing 35 minutes for MEB models. Additionally, the software 2.0 and electronic architecture will enable hands-free driving up to level four.

Volkswagen

Structural and personnel realignment at CARIAD

The Supervisory Board of CARIAD has approved a comprehensive realignment of the Volkswagen Group’s software subsidiary. Peter Bosch, previously responsible for manufacturing at Bentley and the Volkswagen AG representative on the Board of Scout Motors, has been appointed CEO. Supported by acknowledged software experts and a transformation team of experienced managers from the Volkswagen Group, CARIAD senior management and technology specialists will comprehensively advance the development of CARIAD.

Oliver Blume, CEO of the Volkswagen Group and Chairman of the Supervisory Board of CARIAD, commented: “Last year, we drew up a ten-point plan for operational and strategic areas of action within the Volkswagen Group. One key element is the realignment of CARIAD, and we have already made good progress. We are now setting the next milestones for advancing strategic, structural and personnel development. CARIAD focuses on the development of digital future technologies for the Group brands. We are stepping up the pace and broadening our approach to partnerships. This is designed to combine our competences with the best solutions on the market for the benefit of our customers. The outcome is even closer software-vehicle development interaction.”

In the past few years, experts from all over the world have been recruited and inspired with the ambition to develop a uniform operating system for all Group brands.

“When I took office in September 2022, I underscored that CARIAD is a key success factor for the Volkswagen Group. As one of the core elements in our 10-point plan, we have addressed key issues:

  • Sharpening CARIAD’S core competences
  • Revising the interfaces with the brands
  • Realistic sequences for the software architectures
  • Boosting effectiveness
  • Expanding strategic partnerships

We have taken important decisions on these issues in the past few months and have set our guardrails – for example, we have organized the software architectures and their timelines for our vehicle projects. We have drawn further specific conclusions on the basis of our thorough analyses, and are now advancing the in-depth development of CARIAD. We would like to thank Dirk Hilgenberg and his team for their passionate commitment and the progress they have achieved. We are already in talks with them about possible new roles within the Volkswagen Group,” Oliver Blume said.

Peter Bosch named new CEO

Peter Bosch assumes responsibility as CEO of CARIAD effective June 1, 2023. As the Member of the Board for Manufacturing at Bentley Motors since 2017, he shared responsibility for the successful restructuring and reorganization of the company. Peter Bosch is an experienced Volkswagen manager, having held several other posts within the Group, including roles within the Volkswagen brand. As a Member of the Board of Scout Motors, he was recently closely involved in establishing the manufacturer of full-electric R-SUVs and Pickups in North America. Within CARIAD, Bosch will also assume responsibility for Finance, Purchasing and IT.

“Peter Bosch is the right CEO at the right time,” Oliver Blume said. “He is a strategist, an enabler and a team player. He successfully proved that at Bentley. He knows the Volkswagen Group well and also has extensive experience in the fields of change and consulting.”

Going forward, the new CEO will be joined on the Board of Management by two acknowledged software experts. CARIAD will announce these appointments in the near future. The final Board Member is Rainer Zugehör, who retains his role as Chief People Officer (CPO).

In addition, an experienced Transformation Board is already in place to provide CARIAD with further support. This board brings together selected CARIAD managers to create a highly-competent team to shape the realignment. “The focus is on steering the transformation process and advancing cooperation between CARIAD and the Volkswagen Group brands – with a team spirit, fairness and passion,” Michael Steiner, Member of the Supervisory Board of CARIAD and responsible for development in the Volkswagen Group, said. According to Steiner, the Supervisory Board specifically focused on a team of experienced managers from all Volkswagen Group brands, CARIAD experts and new external managers.

The comprehensive realignment of CARIAD is based on five points:

  1. Restructuring of the CARIAD organization
  2. Accelerated execution of the E³ platforms
  3. Structural orientation to the development of software-defined vehicles (SDV)
  4. Intensified technology partnerships with strong tech players
  5. A new leadership and team model

Software based: the software-defined vehicle architecture

CARIAD will play an even greater role in developing the vehicles of the future, from software to hardware. For example, there are plans for an integrated project house with the Volkswagen and Audi brands to develop the next generation of software-defined vehicles.

Volkswagen

Volkswagen: Brand Group Volume doubles operating profit in first quarter 2023

The Volkswagen Group’s Brand Group Volume further strengthened the close cooperation between the sister brands Volkswagen, Škoda, SEAT/CUPRA and Volkswagen Commercial Vehicles in the first quarter of 2023. To take account of this successful development and the significance of the Brand Group Volume in the ongoing transformation of the Volkswagen Group, the four volume brands are publishing their key financial metrics for the first time in a Brand Group Volume quarterly report.

The brand group’s positive development towards greater efficiency and profitability in the volume segment is reflected in particular by the operating profit before special items, which doubled compared with the prior-year quarter, coming in at EUR 1.74 billion (Q1 2022: EUR 0.88 billion), and by a sharp increase in the Brand Group Volume’s operating return on sales from 3.6 percent in the first quarter of the previous year to 5.3 percent in Q1/23. There was also a sharp increase in consolidated sales revenue, which grew 36 percent to EUR 33.16 billion (Q1 2022: EUR 24.36 billion), while net cash flow was EUR 1.7 billion (Q1 2022: EUR 0.5 billion), thus reflecting the good first-quarter performance.

Unit sales in the first quarter of 2023 increased 30 percent to 1.19 million vehicles (Q1 2022: 0.92 million vehicles). The full-electric model range accounts for an ever-larger share of deliveries. In total, the Brand Group Volume delivered 97,100 full-electric vehicles in the first quarter of the year, 49 percent more than in the prior-year quarter.

“Strong brands, lean engine room: targeted cooperation between the brands enabled us to expand existing synergies and scaling benefits in the past few months and at the same time increase our financial robustness and innovation strength. The Brand Group Volume’s key figures prove we are on the right track,” Thomas Schäfer, Member of the Volkswagen Group Board of Management in charge of the Brand Group Volume, said.

Overview of key figures for the Brand Group Volume:

Key figures

Brand Group Volume Q1 2023 (+development)

Brand Group Volume Q1 2022

Unit sales

1,193,000 vehicles (+30 %)

918,000 vehicles

Sales revenue

EUR 33.16 billion (+36 %)

EUR 24.36 billion

Operating profit before special items

EUR 1.74 billion (+99 %)

EUR 0.88 billion

Operating return on sales before special items

5.3 % (+1.7 %pp)

3.6%

Net cash flow

EUR 1.7 billion

EUR 0.5 billion

Four strong brands lay basis for strong performance by Brand Group Volume
The convincing Q1 performance by the Brand Group Volume is also due to the successful development of the individual brands Volkswagen, Škoda, SEAT/CUPRA and Volkswagen Commercial Vehicles.

The Volkswagen brand reported a slight upward trend in deliveries. The Volkswagen Passenger Cars brand handed over a total of 1.02 million passenger cars to customers worldwide in the first quarter of 2023 (+ 0.9 percent). Full-electric vehicles accounted for a large share of this success: with unit sales of some 70,000 vehicles, the brand accounted for just under half of all BEVs delivered by the Group (+31.2 percent). Despite the challenging environment and persistent supply constraints, operating profit before special items in the first quarter of 2023 came in at EUR 608 million, an improvement on the figure for the prior-year quarter (EUR 513 million). Sales revenue rose from EUR 14.9 billion (Q1 2022) to EUR 20.5 billion (Q1 2023). This positive trend was in part offset by factors such as significantly higher material costs as well as exchange rate effects. As a result, the brand’s operating return on sales before special items in the first three months of the current fiscal year stood at 3.0 percent, 0.5 percentage points lower than the corresponding quarter in 2022.

Škoda Auto reported a strong first quarter and delivered 209.600 vehicles to customers worldwide (+12.6 percent). The all-electric Enyaq iV family was particularly successful, with deliveries rising by over 40 percent. The traditional Czech brand generated sales revenue of EUR 6.8 billion, up 33.3 percent on the same period in 2022. Operating profit before special items also increased by over 60 percent to EUR 542 million. At 8.0 percent, the return on sales was at a high level.

SEAT/CUPRA grew the number of electric vehicles delivered between January and March 2023 more than fourfold (+318.9 percent) to 9,200 units. Overall, SEAT/CUPRA delivered 125,218 vehicles in Q1/23.37 percent more than in the prior-year quarter (91,407), making this SEAT’s strongest first quarter ever. The company reported an operating profit of EUR 144 million for the period January – March 2023, an improvement of EUR 139 million on the first quarter of 2022. The operating return on sales in Q1/23 rose to 4.0 percent. Thanks to high demand and improved components supply, sales revenue increased to EUR 3.6 billion (+48.2 percent compared with the prior-year quarter).

Volkswagen Commercial Vehicles continued the positive business trend of 2022 in the first quarter of fiscal year 2023. Deliveries grew 18.7 percent to 97,189 vehicles. Q1/23 was the first full business quarter for the ID.Buzz since its market launch, lifting deliveries of all VWN BEV vehicles to 5,500 units (Q1 22: 700 BEVs). Sales revenue rose to just under EUR 3.6 billion, driven by positive pricing and mix effects. Even though the market and supplier situation remained tense, operating profit before special items soared to EUR 171 million (Q1/22: EUR 46 million). In line with these figures, the operating return on sales increased from 2 percent in the first quarter of the previous year to 4.8 percent.

Outlook
The Brand Group Volume is the crucial lever for financial robustness, synergies and innovation in the Volkswagen Group – and bolsters resilience against external challenges. Based on effective management of the Brand Group Volume with lean structures, the focus is on reducing complexity – and the systematic leveraging of existing synergy potential. The central performance indicator for Brand Group Volume is a consolidated operating return on sales of 8 percent from 2025. For the 2023 fiscal year, the brand group already expects a consolidated operating return on sales significantly higher than the 3.6 percent posted for 2022.