05 April 2020

VW Brand Profit (By Make) : 2017-19

Bentley charging out of the wilderness into profitability

VW allow us to see how each division fares when it comes to profit various brands make within the group. I believe the figures exclude vehicles made by joint venture operations in China. Lamborghini is combined with Audi. The first column is sales (Bentley the only one with a decimal place due to small numbers). Then millions of euros profit/loss and finally euros of profit per vehicle made.

Porsche is very profitable, at over €15,000 per vehicle. Bentley had a horror 2018 but bounced back strongly in 2019. I think VW would like to see the €5,600 per car improved on though. Audi/Lamborghini gained a bit, to €3,750 each and Škoda pushed its margin up to €1,560.

VW LCVs were down to €1,100, the tie up with Ford LCVs in Europe a good move. VW cars is trying to lift its modest €1,000 per unit figure, with a little success. Lastly SEAT was a constant loss maker that tested VW HQ's patience. However, it is now in the black and gaining, now at €670. Is it a coincidence the profit came along at the same time as it invested in an SUV range? I think not.

Year 2019 2018 2017
Brand Sales Mill € € Per Car Sales Mill € € Per Car Sales Mill € € Per Car
Porsche 277 4,210 15,199 253 4,110 16,245 248 4,003 16,141
Bentley 11.6 65 5,603 9.6 -288 -30,000 10.5 55 5,238
Audi 1,200 4,509 3,758 1,467 4,705 3,207 1,530 5,058 3,306
Škoda 1,062 1,660 1,563 957 1,377 1,439 937 1,611 1,719
VW LCV 456 510 1,118 469 780 1,663 498 853 1,713
VW Car 3,677 3,787 1,030 3,715 3,239 872 3,573 3,301 924
SEAT 667 445 667 608 254 418 595 191 321


Data source: VW.

VW LCV Global Production (By Model) : 2018-19


A part of the VW empire many may not think of is its commercial vehicles. I don't bother getting into the truck side but light commercials are fair game. Production was down 8% for the year, only the Crafter spared. The worst hit was the Amarok, which has struggled to gain traction against US and Japanese competition.

16 17 18 19 Models 2019 % +/-
2018 % +/-
1 1 1 1 Transporter 188,118 35.3% -7%
201,811 34.9% -3%
Caravel/Kombi 96,533 -16%
115,525 0%
Van 91,585 6%
86,286 -7%
2 2 2 2 Caddy 148,246 27.9% -8%
161,035 27.9% -2%
Kombi 81,466 -9%
89,154 -4%
Van 66,780 -7%
71,881 1%
5 5 4 3 Crafter 72,906 13.7% 9%
67,151 11.6% 85%
3 3 3 4 Amarok 68,010 12.8% -24%
88,950 15.4% 11%
4 4 5 5 Saveiro 54,941 10.3% -7%
59,233 10.2% -11%

Total 532,221
-8%
578,180
4%

Regional sales. Deliveries as shown below are down on actual sales. I retain the Saviero into this area, unlike VW which moved it over to the VW car brand area a few years back. To me it's a compact utility vehicle, they must see it now as a recreational one.

While VW as a brand is strong in Asia, it isn't when it comes to LCVs. In fact, if I took the Saviero out, it would be almost totally dependent on Europe. Otherwise it is mainly be the Amarok pick up that carries the VW LCV torch to other regions.

Region 2019 % +/-
2018 % +/-
Europe / Other 419,676 76.7% -3% 434,084 75.1% 3%
South America 92,884 17.0% -12% 105,335 18.2% -2%
Asia - Pacific 23,124 4.2% -17% 27,972 4.8% 6%
North America 11,316 2.1% 15% 9,842 1.7% -6%
Total 547,000
-5% 578,000
2%

Data source: VW.

04 April 2020

Porsche Global Production (By Model) : 2018-19


Porsche realised some time back that relying on solely sports car wasn't the way to a stable and consistently profitable future. They introduced a saloon car and two SUVs, with an all electric Taycan saloon just added to the range. The name Porsche may elicit thoughts of a sports car but in 2019 only 20% of production went that way.

The SUVs now hold just under 70% of the total cars made but they do seem to have reached their maximum percentage. The Cayenne coupé has been instrumental in pushing it back to the top spot of the range.

16 17 18 19 Models 2019 % +/-
2018 % +/-
2 2 2 1 Cayenne 95,293 34.7% 20% 79,111 29.5% 34%
1 1 1 2 Macan 89,744 32.7% -4% 93,953 35.0% -5%
3 4 3 3 911 37,585 13.7% 4% 36,236 13.5% 7%
5 3 4 4 Panamera 31,192 11.4% -12% 35,493 13.2% -6%
4 5 5 5 Boxster/Cayman 19,263 7.0% -19% 23,658 8.8% -10%
- - - 6 Taycan 1,386 0.5% n/a -


Total 274,463
2% 268,451
5%

SUV 67.4%
5% 64.5%
4%

Regional sales. The figure below is deliveries, sales were 277,000. In both cases, it represented a 10% increase, ahead of the 2% production figure. China remained the largest market with 87,000 sales, the Asia - Pacific region the strongest for the marque.

Region 2019 % +/-
2018 % +/-
Asia - Pacific 109,590 39.0% 8% 101,632 39.7% 11%
Europe / Other 96,102 34.2% 14% 83,968 32.8% -3%
North America 71,936 25.6% 6% 67,584 26.4% 4%
South America 3,372 1.2% 20% 2,816 1.1% 14%
Total 281,000
10% 256,000
4%

Data source: VW.