Family Portrait 2010 - Amarok, Transporter, Crafter and Caddy Maxi
-Worldwide deliveries up by 22.8 percent
-Sales revenues up by 39.3 percent
-Operating profit of € 232 million results from intrinsic strength
-Brand is market leader in light commercial vehicles in the European Economic Area* again in 2010
-New Crafter nearly ready to roll
-Schreiber: Internationalization will continue
Hanover, March 16, 2011: Volkswagen Commercial Vehicles is on a growth course – in 2010 worldwide deliveries to customers went up by 22.8 percent to 435,600 light commercial vehicles (2009: 354,800). With a sales revenue of € 7.394 billion, the brand achieved an operating profit of € 232 million.
“We see the central reason for the steep increase in deliveries in 2010 – and our associated positive financial result – in our modern range of light commercial vehicles with their leading edge technology”, emphasized Dr. Wolfgang Schreiber, Speaker for the Board of Management of Volkswagen Commercial Vehicles, at the brand’s press conference today. “With these, we are laying a solid foundation for a profitable future growth course.”
Deliveries and market shares in 2010
Bestseller and driving force behind the growth in 2010 was the T5 Series with its Transporter, Caravelle, Multivan and California variants. Global deliveries of the T5 went up by 27 percent to 148,000 units (2009: 116,500). 124,000 T5s were sold in Europe, 26,000 more than in the previous year, representing a growth of 25.8 percent. Of these, approximately 59,000 deliveries were accounted for by the German market, a plus of 27.7 percent. In both market areas, the T5 is the clear market leader, with a market share of 26.1 percent in Europe and 46.5 percent in Germany.
Worldwide sales of the Caddy Series amounted to 128,700 and were about eight percent, or approximately 11,000 units, below the high number of deliveries in the previous year, which had been achieved due to the scrapping premiums (2009: 139,800). In Europe, Caddy deliveries went down by 13.9 percent to 104,000 vehicles, Germany’s share of this being 42,000 unit sales. First-time registrations of the Caddy in Germany again held the top position with a 43.8 percent market share, and the third position in Europe, with a share of 17.4 percent.
The Crafter achieved 37,450 deliveries worldwide – approximately 3,500 more than in 2009 – thus attaining an increase of 10.4 percent (2009: 33,900). Deliveries in Europe rose by 8.7 percent to 30,000, a figure which includes the German market with a volume of 12,000 Crafters, representing an increase of 13.8 percent.
The Amarok achieved global deliveries of 22,600 in its introductory year.
“In the markets on which it was launched in 2010, the Amarok gained good competitive positions starting from scratch. Here one can mention two representative examples, Argentina and Germany, where our midsize pickup has already climbed to second place in the competitive environment in its launch year. This makes us very optimistic about increasing deliveries in the strongly growth-oriented pickup segment in 2011, both here and elsewhere in the world;” says Harald Schomburg, Member of the Board of Volkswagen Commercial Vehicles for Sales and Marketing.
Sales of light commercial vehicles from Brazilian production also grew. Deliveries of the Saveiro doubled, totalling 72,800 unit sales. Sales figures for the Brazilian classic T2 remained stable, at 26,100 deliveries.
Volkswagen Commercial Vehicles once again 2010 market leader in the EEA*
The 2010 sales successes of the Caddy, T5 and Crafter models made sure that once again in 2010, for the fourth time in succession, these series clearly headed first-time registrations in the competition-intensive segment of city delivery vans and transporters up to 6 tonnes gross vehicle weight in the European Economic Area*. With a market share of 15.5 percent, Volkswagen Commercial Vehicles was able to further strengthen its lead position.
“More and more commercial customers confirm the central competitive advantages of our contemporary models, particularly apparent in their lower consumption, higher safety and greater functionality and comfort”, Schomburg emphasized. “These qualities, in combination with the high degree of specialization and consistent customer orientation of our sales partners, are the success factors for our leading position.”
In 2011 these potentials are to be developed initially with the New Crafter, which will soon be entering competition with enhanced efficiency and outstanding operating economy. The launch of the new model throughout Europe is planned for June of this year, the head of sales says.
Transporter Rockton
Development of results in 2010
Success on the various markets has been confirmed by the financial results for the completed fiscal year, with a 39.6 percent increase in sales revenue to € 7.394 billion and an operating profit of € 232 million.
“The profit results from intrinsic strengths and not – as was the case in the year 2009 – from the one-off effect of selling the Brazilian truck division to MAN”, stressed Klaus-Dieter Schürmann, Brand Board of Management member with responsibility for Finance and IT at Volkswagen Commercial Vehicles.
As well as achieving higher profits by increased sales, it had been possible to reduce fixed costs low by exercising discipline in expenditure. Reduced product and material costs, plus substantially improved purchasing performances, also made an important contribution to the development of results. In addition the brand had benefited from international currency exchange rates. The brand’s investments were down by 51.1 percent compared to the previous year, at € 206 million. Net cash flow was clearly positive at € 145 million. Return on investment was 7.5 percent. Return on sales was down by 3.1 percent taking account of the one-off effect in the previous year.
“In 2010, we achieved the best result in the history of the brand for the sole segment of light commercial vehicles”, Schürmann emphasized. This does not take into account the special effect from 2001 which occurred due to the changeover to IFRS (International Finance Reporting Standards).
Looking ahead in 2011 and medium term objectives
According to Dr. Schreiber, Speaker for the Board of Management of Volkswagen Commercial Vehicles, the brands short term objectives for 2011 are to consistently exploit all potentials the market has to offer worldwide. The existing market positions of all series are to be further strengthened by comprehensive technical and eco-friendly innovations. “In 2011, we want to exceed last years positive delivery result”, Schreiber stated.
He said that in the area of E-Mobility it is planned to test out a fleet of electrically driven Caddy blue-e-motion with a major client in 2011, in order to gather practical experience of day-to-day operation.
Another growth target, Schreiber said, would be the further internationalization of the brand. At present Volkswagen Commercial Vehicles has a very strong presence in Europe with the traditional series Caddy, T5 and Crafter. This is evidenced by Volkswagen Commercial’s high market shares and very good market penetration. The brand intends nevertheless continue to expand in its home region beyond 2011. However, Volkswagen Commercial Vehicles also intended to grow outside Europe in the medium term.
The Amarok was the vehicle with great global growth potentials, he said, and would open up the door to new markets for Volkswagen Commercial Vehicles. In South America, Volkswagen Commercial Vehicles is present with its Amarok production in Pacheco, Argentina. For Europe, production capacities are being set up at the main production facility in Hanover. In both regions, and of course in the Middle East and in Africa, excellent competitive chances existed, Schreiber said, and these would be offensively used in the future.
According to Schreiber, Volkswagen Commercial Vehicles sees the biggest growth potentials for the Amarok in the South East Asian markets. In the coming years VCV would be vigorously pursuing these enormous market opportunities. “We shall be continuing the specifically targeted internationalization of our products – but not neglecting our home market in Europe! Volkswagen Commercial Vehicles is clearly on course for expansion. Our aim is profitable growth, step by step,” the Speaker for the Board of Volkswagen Commercial Vehicles declared.
*European Economic Area (EEA) = EU-Member States, plus Iceland, Liechtenstein, Norway and Switzerland; core segment of original light commercial vehicles up to 6 tonnes gross vehicle weight, not including subsequently converted passenger vehicles with commercial registration.
Multivan Edition25 with Daytime Running Lights