Volkswagen Group Sells Fewer Vehicles in 2021, but Grew Its Revenue by 12,3% and Netted R230 Billion

• The Volkswagen Group posted a nett profit of R230 billion or 15,4 billion rising by 75% in 2021 despite selling fewer vehicles across its 12 brands
• The company cited the semiconductor shortages as a reason for selling 8.6 million in 2021, 600 000 fewer than in 2020 and 2.4 million below 2019 levels
• The outlook for 2022 paints a more positive picture with deliveries expected to increase between five and 10%
• Volkswagen says the projected figures for 2022 are subject to the further development of the war in Ukraine and, in particular, the impact on the group’s supply chains and the global economy as a whole

Despite selling fewer cars in 2021, Volkswagen Group's net profit rose 75% to €15,4 billion (or R230 billion in 2021). The carmaker, whose brands include Audi, Porsche and Bentley, sold 8.6 million vehicles in 2021, a drop of 6.3% in comparison to 2020.

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Simultaneously, the world's second-largest car group drove its transformation to New Auto forward. A solid profit was achieved despite strong headwinds from semiconductor shortages that led to a decrease in vehicle sales of around 600 000 units compared to 2020.

Although sales volumes were down six percent on the prior year, sales revenue increased by 12% to €250,2 billion, AutoCar reports.

The Group said chip shortages would continue to affect the motor industry but was confident its electric vehicle business would continue to perform well, the company currently has 25% EV market share in Europe iol reports.

Volkswagen Group chief financial officer Arno Antlitz said:

“Over the past two years, we have learned to better mitigate the impact of crises on our company, I am confident that we will make the best possible use of these experiences to stay on track in these difficult times."

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The Board of Management and Supervisory Board are proposing a dividend of €7,50 per ordinary share and €7,56 per preferred share, an increase of 56% compared to €4.80 or €4.86, respectively, in the preceding year.

South Africans are paying over R20 a litre for petrol: Here are 10 tips on how to save fuel

The recent fuel price hike has seen South Africans forking out over R20 a litre for petrol, and to be honest, it's not a great feeling, Briefly News reports.

It was one of the single largest fuel price hikes so far. With that being said, there are ways to make the increase a little easier to manage, and that's why we've collated tips for motorists to learn how to go further for less.

By adjusting our driving habits and looking after our vehicles better, we can reduce fuel consumption and pay less money towards our trips.

Source: Briefly News