Volkswagen: BEV deliveries rose 26% in 2022

Volkswagen said: "Although overall delivery numbers declined 7 percent to 8.3 million vehicles in 2022, Volkswagen Group remains well-positioned for future growth. Operating margins before special items grew to 8.1 percent in 2022, reflecting the Group’s continued pricing discipline and cost progress and was driven by a stronger model mix. The automotive division’s net cash flow decreased to EUR 4.8 billion. This was caused by an increase in working capital due to supply chain and logistics issues, especially towards the end of the year. In the course of 2023, this effect should largely reverse and strengthen the automotive division’s net liquidity. With a high order book of 1.8 million vehicles and a unique product portfolio, the Group maintains a strong position and expects supply chain bottlenecks should gradually ease in 2023." BEVs now account for 16 percent of the Group’s order book, the company said.