Volkswagen Commercial Vehicles (VWCV) has reported a solid financial performance for 2024, despite a 4% decline in sales.
The company achieved €15.12bn in sales revenue, remaining consistent with the previous year (€15.33bn), even as vehicle deliveries remained stable. However, due to restructuring measures, the operating result fell to €743m, down from €873m in 2023, but still significantly higher than €527m in 2022.
In 2024, VWCV introduced a wave of new models, including the ID. Buzz, Multivan, and the Transporter. The Transporter made its world premiere at the IAA Transportation show in September, and by March 2025, 52,000 orders had already been placed for the new Transporter and Caravelle.
Carsten Intra, chairman of the VWCV Brand Board of Management, said: “We had announced that there would be a host of new models for 2024 – and we delivered.”
The company also introduced the ID. Buzz GTX, an all-electric derivative in March, followed by the launch of the California based on the Multivan in May. Additional updates were made across nearly the entire range, including the 4Motion system in the Multivan, the Caddy PHEV, and the new Crafter.
Intra said: “We now have the best product offering for our business and leisure customers!”
Despite the 4% drop in vehicle sales to 404,000 units, VWCV’s €15.12bn in revenue underscores the strength of its expanded product portfolio.
Michael Obrowski, chief finance officer at Volkswagen Commercial Vehicles, said: “The restructuring expenses as part of our GRIP programme have had a significant impact on the operating result, which fell to €743 million. These expenses are an investment in our future, as they will sustainably improve our cost situation.”
VWCV said it intends to continue its cost reduction efforts in 2025, driven by its ‘Top 10 Programme’. Another major focus for the year ahead is international expansion, with plans to bring the ID. Buzz to new markets, including Australia, New Zealand, Hong Kong, and Indonesia.
Lars Krause, member of the Brand Board of Management for Sales, Marketing and Aftersales, said: “We have just brought the ID. Buzz to North America – the bus is back. This year we are launching in new markets, mainly in the Asia region. This expansion will make an important contribution to increasing the all-electric share in our fleet. In 2025, we will achieve a double-digit percentage of our deliveries with our all-electric ID. Buzz, Transporter and Caravelle.”
In 2025, VWCV also celebrated the 75th anniversary of the VW Bus, one of the most iconic commercial vehicles in history.
Intra said: “This makes it the most successful European commercial vehicle of all time. And it has already been a cult vehicle for an eternity.”
Looking ahead, the brand plans to introduce BEV, diesel, and hybrid versions of the Transporter by 2026, enhancing its versatility.
Intra said: “We founded the van segment 75 years ago – we are the original! Across all vehicle generations, no vehicle has more fans than the VW Bus. For 75 years, our products have been supporting our customers in everything they do. And that will be the case in the future as well.”
