Volkswagen Commercial Vehicles has produced a significant profit again, finishing 2022 by adding around half a billion euros to its coffers, despite a drop in deliveries.

Sales values rose, hitting €11.5 billion (£10.1bn) for the year, although there was a slight decline in the total number of vehicles sold, falling to 328,600 from the previous year’s figure of 359,500. The increased revenue per vehicle led to an operating profit of €529 million (£467m).

Volkswagen increased its market share in many territories, with the brand taking nearly 13% of the European market, up by 1.5%. Thanks to the launch of the ID Buzz, Volkswagen Commercial’s deliveries of all-electric vehicles rose to 7,500 – more than twice as many as 2021’s total.

“If we take the two years 2021 and 2022 together, our combined profit turnaround amounts to around one billion euros,” said Michael Obrowski, board member for finance at Volkswagen, before explaining that the strong figures were due to positive effects of the product mix and a sustained trend towards higher-end models with good profit margins.

With the ID Buzz and Amarok’s arrival, Obrowski expects additional growth potential for the coming years, saying, “our target for this year is to improve our positive net cash flow to more than 500 million euros.”

Volkswagen profit in 2022 helped by ID Buzz

The successful year was marked by the launch of the ID Buzz electric van and the reveal of the production-ready Amarok pickup truck. Presales of the ID Buzz and ID Buzz Cargo reached 21,000 orders, with more than 32,000 vehicles now sold.

Beyond the arrival of the new Amark, further growth is expected, with a range of LCV updates and models coming soon, including a long-wheelbase ID Buzz, a hybrid Caddy van, and a new California camper built around the latest generation Multivan.

Phil Huff
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