大众汽车集团2025年上半年业务报告（英）

Volkswagen AG Investor, Analyst and Media CallH1 2025July 25, 2025The following presentations as well as remarks/comments and explanations in this context contain forward-looking statements on the business development of the Volkswagen Group. These statements are based on assumptions relating to the development of the economic, political and legal environment in individual countries, economic regions and markets, and in particular for the automotive industry, which we have made on the basis of the information available to us and which we consider to be realistic at the time of going to press. The estimates given entail a degree of risk, and actual developments may differ from those forecast. All figures are rounded, so minor discrepancies may arise from addition of these amounts.Any changes in significant parameters relating to our key sales markets, or any significant shifts in exchange rates, energy and other commodities or the supply with parts relevant to the Volkswagen Group will have a corresponding effect on the development of our business. In addition, there may also be departures from our expected business development if the assessments of the factors influencing sustainable value enhancement and of risks and opportunities presented develop in a way other than we are currently expecting, or if additional risks and opportunities or other factors emerge that affect thedevelopment of our business.We do not update forward-looking statements retrospectively. Such statements are valid on the date of publication and can be superseded.This information does not constitute an offer to exchange or sell or an offer to exchange or buy any securities.Disclaimer2Highlights12 Financials4-€ 1.4bn-€ 0.5bn€ 158.4bn-0.3% y-o-y4.2%(5.6%1)4.7%(6.8%1)€ 80.8bn-3.0% y-o-yGroup RevenueGroup Return on SalesAutomotive Net Cash FlowH1 2025Q2 2025Operating performance in H1 within previously guided bandwidthFinancial Overview1. Before effects from additional US tariffs, net personnel related restructuring and Diesel expenses.H1 Results Heavily Impacted by US Trade Tariffs5Investments of >$ 14bn1in US in local production, partnerships & technologyStrategic growth market and key region for global software strategyStrong commitment evidenced by Scout production new-build and Rivian investment and JVCosts related to additional US tariffs amounted to € 1.3bn YTD1. Investment spend in the US in last years.6STRONG MOMENTUMCONTINUING6Volkswagen Group Model LaunchesDeliveries in H1 2025at 4.4 million units (+1%) 317465H1 24H1 252025ETop BEV Models H1 2025BEV Deliveries up 47% in H1 - Strong Momentum in Europe7Annual DevelopmentBEV Deliveries [‘000 units]ID.4/5 85k ID.3 61kQ4 e-tron 45k7%11%11%20%BEV share WEU [%]BEV share [%]137192PHEV Deliveries [‘000 units]10 – 14%Q6 e-tron36k ID.739k Enyaq39k Western Europe Order Intake8Strong order intake momentum in our home region, BEV up by 62%Order book lasts well into Q4 2025Continued model launch offensive to provide further tailwi