Volkswagen Group (VOW) Pre-close call presentation summary

Group performance and deliveries

• H1 2026 deliveries fell 6.3% year-on-year to 4.1 million units, mainly due to a significant decline in China, while ex-China deliveries rose 2%.

• Battery electric vehicle (BEV) deliveries totaled 438,000, down 6% year-on-year, but BEV share remained stable at around 11%.

• Global passenger car market share held steady at approximately 10%.

Regional and brand group trends

• Deliveries increased in Europe (+7.6% in Q2), North America (+2.5%), and South America (+9.4%), but dropped sharply in China (-36.6% in Q2, -25.9% H1).

• Core and Progressive brand groups grew ex-China (+4% and +2% respectively), while Sport Luxury declined (-14% ex-China).

• European order book rose 12% year-to-date, with BEVs making up 31% of the order book, up from 22% at year-end 2025.

Strategic initiatives and portfolio management

• Streamlining model line-up by up to 50% and reducing complexity by up to 75% to boost competitiveness.

• Production network aligned for 9 million units per year, targeting 8–10% return on sales by 2030.

• Focus on core automotive business, with investment portfolio aligned to strategic contribution and return.

• Discontinued Automated Driving Alliance with Bosch, resulting in a non-cash P&L charge in Q2 2026.

• Sale of 51% stake in a business unit to Bain Capital expected to generate €7.4bn in proceeds.