Press Releases
The new Golf R – Countdown to world premiere has started
It’s the flagship model of the most successful Volkswagen of all times. Now the countdown to the world premiere of the new Golf R has started – the wait will finally be over on 4 November! Just one day later, presales of the new sports car will launch in Germany and Europe. Volkswagen is extending its range of sporty Golf models at high speed. The debuts of the GTI, GTI Clubsport, GTE and GTD are now followed by the dynamic flagship model of the eighth Golf generation: the new Golf R. Like all Golf models, the Golf R is also produced at the Wolfsburg plant, the home of the Golf.
Volkswagen brand recovers from Covid-19 slump in third quarter and confirms outlook
After the pandemic-related slump in the first half of the year, business performance at the Volkswagen Passenger Cars brand recovered noticeably in the period from July to September. With 1.5 million vehicles delivered worldwide, the core brand of the Volkswagen Group delivered almost as many vehicles to customers in the third quarter of 2020 as in the prior-year period (– 2.7 percent). In the period from January to September, however, deliveries still decreased by 18.6 percent. The gradual recovery is also reflected in the brand’s financial key performance indicators: Sales revenue amounted to EUR 47.2 billion after nine months, down 27.9 percent on the previous year. After the first six months of the year, a 35.3 percent drop had been recorded. With an operating result before special items of EUR 522 million, the brand was back in positive territory in the third quarter. The nine-month operating result before special items improved accordingly to EUR –1.0 billion (first six months: EUR –1.5 billion).
Volkswagen Group returns to profitability
The Volkswagen Group’s business was heavily impacted by the Covid-19 pandemic in first nine months of 2020, but recovered noticeably in the third quarter. This means that the declines in deliveries, sales revenue and profit as of the end of September were significantly more moderate than at the half-year mark. The countermeasures initiated worldwide to cut costs, secure liquidity and decrease the funds tied up in working capital had as much of an impact as the continuing improvements in the situation in key sales markets. Deliveries to customers in the first nine months of 2020 fell by 18.7 percent year-on-year, to 6.5 (8.0) million vehicles. As a result, sales revenue, too, decreased by 16.7 percent to EUR 155.5 (186.6) billion. Thanks to a return to a clearly positive result in the third quarter, the operating result before special items amounted to EUR 2.4 (14.8) billion as of the end of September. The significant year-on-year decrease was primarily attributable to the decline in the sales volume due to the sharp fall in customer demand, especially in the second quarter. Other factors were negative effects of the fair value measurement of derivatives to which hedge accounting is not applied and exchange-rate effects. They were set against a non-cash gain on the contribution of Autonomous Intelligent Driving (AID) into the autonomous driving joint venture with Ford. Special items relating to diesel weighed on the operating profit with EUR –0.7 (–1.3) billion. Earnings before tax decreased to EUR 2.3 (14.6) billion, marking a clear return to positive territory.
Automotive Division: Net cash flow turns positive again, significant increase in net liquidity
TRATON and Hino start E-Mobility Joint Venture
TRATON SE (TRATON) and Hino Motors, Ltd. (Hino) have signed a joint venture agreement for e-mobility in order to plan and provide e-mobility products that will be based on the two companies’ strategic partnership to offer customers the highest value. TRATON and Hino will combine their unique strengths to consequently develop electric vehicles including battery electric vehicles (BEV), fuel cell vehicles (FCV), and relevant components as well as creating common EV platforms including software and interfaces. They will form a team of advanced specialists from both companies and launch activities in Södertälje (Sweden) and in a second step in Tokyo (Japan). TRATON and Hino will team up to shorten lead times for future e-mobility products with battery and fuel cell technology. The two companies are convinced that both technologies will be needed in the future.
Note to editors: Change at Volkswagen Communications
Change at Volkswagen Communications: Stefan Voswinkel (44) is to become Head of Product and Technology Communications of the Volkswagen Passenger Cars brand with effect from January 1, 2021. He succeeds Florian Urbitsch, who has left the company. In this function, Voswinkel will report to Robin Aschhoff, Head of Communications of the Volkswagen Passenger Cars brand. Until the end of the year, Christoph Adomat, currently Head of Technology Communications, will manage Product Communications in addition to his other duties.
Now available with natural gas drive again: pre-sales of the new Golf TGI underway
The new Golf is now also available with an environmentally-friendly natural gas drive: the Golf TGI is equipped with a powerful 1.5-litre four-cylinder engine with 96 kW / 130 PS and three natural gas fuel tanks. The tanks are integrated into the underbody and permit a range of around 400 kilometres (WLTP) in pure natural gas mode. The engine of the quasi-monovalent drive system is powered primarily with CNG (Compressed Natural Gas), but can also run on petrol. A reduced-capacity petrol tank serves only as a reserve, but ensures additional range.
Top marks for the ID.3: five stars in the Euro NCAP test
A dream start with five stars: In the Euro NCAP (European New Car Assessment Programme) safety test, the ID.31) achieved the highest score possible. The auditors gave the first model to be based on the new modular electric drive matrix (MEB) good ratings in all criteria – for the protection of adult occupants, children and vulnerable road users as well as for its safety assist systems.
Happy birthday K70! The quiet game changer turns 50
“Love the VW K70 – because it opens up a new VW era”this was the advertising slogan used for the launch of the Volkswagen K 70 50 years ago. With a water-cooled front engine, front-wheel drive and modern styling, the mid-sized sedan actually did usher in a new era at Volkswagen.
TRATON and Navistar agreement in principle
TRATON SE ("TRATON") and the US-American truck manufacturer Navistar International Corporation ("Navistar"), in which TRATON already holds a stake of 16.8 %, have today reached agreement in principle that TRATON will acquire by merger all shares in Navistar not already held by TRATON, at a price of USD 44.50 per Navistar share.
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