VW Group Brands Sales vs Profit : 2020-21

I've already posted a couple of articles on VW Group. Production is down but how is the bottom line? Has it impacted profit? Let's see. Gowing from the largest in terms of volume down. Sales and Mill € both need three zeros added.

VW Car: Sales may have dropped 116,000 units but profit grew from €160 per car to €921. There could be various reasons for this like reduced inventory or pulling back on less profitable sales as two examples. Whatever the reasons, quite an upturn.

Audi: Sales were about the same but profit went up from €2,700 to €5,500 per car sold. The 2020 profit was the lowest since 2010 so a rebound could be expected but doubling it was a fine result.  

Škoda: Sales were down 65,000 but unit profit was up from €890 to €1,381. 

SEAT / Cupra: Sales were up by 10,000 and the loss was reduced from -€700 to -€472. I assume the reason for the losses that this division runs up is that 500,000 sales simply isn't quite enough.  

VW LCV: The light commercial division went from a -€1,316 loss to a + €224 per unit. LCVs are usually profitable so 2020 was a hiccup.

Porsche: Profit is a consistent result for the marque. Profit per vehicle went from €4,000 to €5,000 which was high even for this division. 

Bentley: It's usually in the black to a modest degree but has had some poor years. In 2010 for example, it lost over €50,000 for each car delivered and in 2018 -€30,000. Ouch. However, 2021 was a stellar year for the marque with profit just over €26,000 per car. The total profit wasn't that large due to only 14,800 sales but still a good result. 

Summary: Profit doesn't always come with volume as sales dropped and the black ink followed. It will be interesting to see how 2022 goes as the industry is going through challenging times. Thanks to the VW group for its transparency.