Volkswagen Brand Group Core on track despite special items; new steering model gives additional boost in 2026

• At 6.8 billion euros, operating result in 2025 close to prior year level in spite of external negative effects
• Noticeably lower fixed costs through performance programs and implementation of wage agreement – further efficiency increases nevertheless necessary
• Realignment of the Brand Group Core Board of Management brings leaner processes and decision-making paths and simplifies steering from 2026
• Electric Urban Car Family with new models such as the ID. Polo and ID. Cross from 2026 make e-mobility even more affordable for many customers

The Volkswagen Group’s Brand Group Core (BGC) implemented its strategic goals as planned in 2025 – and reported an operating result of 6.8 billion euros – close to the prior year level despite significant negative special items. Adjusted for additional expenses for restructuring, the diesel issue and U.S. import tariffs, the operating result for 2025 came in at 8.2 billion euros – in line with the set target.
In strategic terms, 2025 was a significant year in which the foundations for increased efficiency and more competitive products were laid. Nevertheless, resilience must be further strengthened in 2026. For this reason, Volkswagen, Škoda, SEAT&CUPRA and Volkswagen Commercial Vehicles are streamlining their organizational structures with a new cross-brand steering model – thereby creating potential for further savings.


Key figures Brand Group Core (Jan. – Dec. 2025)

Brand Group Core vehicle sales rose to 5.12 million (2024: 4.96 million)		Solid 3.3% year-on-year growth in vehicle sales. This is primarily due to good business development in the home market of Europe and the strong market share in the BEV segment.
3.7% growth in Brand Group Core sales revenue to 145.2 billion euros (2024: 140.0 billion euros)		Growth driven by successful model launches and improved product mix across all four brands.
Brand Group Core operating result came in at 6.82 billion euros (2024: 6.96 billion euros)		The operating result was only marginally lower than the previous year – but was impacted by special factors such as restructuring costs, the diesel issue and U.S. import tariffs.
Brand Group Core operating margin of 4.7% (2024: 5.0 %)		The 0.3 percentage point decrease is due to external special effects. Excluding these factors, the Brand Group Core operating return would have been 5.6% - and therefore in line with original expectations.
Net cash flow increased by 2.27 billion euros to 6.95 billion euros (2024: 4.68 billion euros)		The marked rise in net cash flow underscores improved capital efficiency and successful working capital management. Strategically necessary investments in future technologies and in model ramp ups were realized.

Read on

Volkswagen Group