Volkswagen has revealed the brand’s progress through the ACCELERATE strategy showcasing its transformation into a tech company in the first year. The brand has revealed an appreciable increase in sales revenue, return and operating profit. Furthermore, Volkswagen also revealed the brand has achieved this in the last fiscal year despite significantly lower unit sales.
Optimised Cost Structure
Volkswagen has revealed that 4.9 million unit vehicle deliveries in a difficult competitive environment in 2021. This also shows an 8 per cent lower than the previous year. Also, the sales revenue grew 7 per cent to EUR 76.1 billion. Furthermore, special items also grew significantly, increasing from EUR 2 billion to EUR 2.5 billion. The sales before special items in 2021 were 3.3 per cent, within the target corridor of 3 to 4 per cent. The fixed costs of the company were also over EUR 1 billion, which are below the figure for the pre-crisis year of 2019. Also, in the e-mobility department, the brand reveals EUR 18 billion along with hybridization and digitalization up to 2026.
ACCELERATE Milestones e-mobility and Digitalization
ACCELERATE strategy was launched last year, more than 369,000 electric vehicles worldwide in 2021 fiscal year. Out of which 106,000 were PHEVs and 263,000 were all-electric vehicles. In 2021, Volkswagen launched three electric vehicle models – ID4 and ID5, both featuring the top-of-the-line GTX models and ID6 in China. 2022 also saw the debut of the ID Buzz, the bookings of which has commenced. The sales of the ID Buzz start in May, and the delivery of the first models is scheduled for the fall.
The brand has also revealed that Volkswagen has become the first volume car manufacturer to offer over-the-air (OTA) updates. Before the end of this year, Volkswagen will also launch OTA in the major markets of the USA and China before the end of this year. The company is also laying down the groundwork for additional services that customers can book.