In the first nine months of 2025, the Brand Group Core continued its positive development and significantly improved vehicle sales, sales revenue and the operating result. The main drivers of this positive development were cost reductions resulting from the performance programs of the brands, as a result of which the operating result of the brand group grew 6.8% to 4.7 billion euros (+6.8%). Successful model launches and strong demand for models such as the Tayron, T-Cross und ID.7 Tourer, as well as the new Volkswagen Transporter/Multivan, CUPRA Terramar and Škoda Elroq also contributed to this success. However, the ramp-up of the lower-margin electric vehicles as well as expenses for US import duties had a significant negative influence on the cumulative result. Restructuring measures, especially for the Volkswagen brand, had further negative impact on the result and net cash flow.
