Orders received by the Volkswagen Group
ORDERS RECEIVED IN THE PASSENGER CARS SEGMENT IN WESTERN EUROPE
Orders received in Western Europe in the reporting year were up 16.1% on 2023, with nearly all major markets recording an improvement year-on-year. While Italy and the United Kingdom saw single-digit growth, Germany, France and Spain each achieved growth of over 10% compared with the previous year. Orders received for battery-electric vehicles rose by around 88% versus the prior year. This upward trend was underpinned by the successful launch of new models.
ORDERS RECEIVED FOR COMMERCIAL VEHICLES
Orders received for mid-sized and heavy trucks, for buses, and for commercial vehicles from the MAN TGE van series were down slightly year-on-year, at 263,601 units in 2024, mainly as a result of a decline in the truck business. The biggest drop in truck orders was observed in the EU27+3 region, primarily due to the weak economic situation. Incoming orders for trucks in North America were up slightly year-on-year, with weak demand for heavy trucks more than offset by higher demand for mid-sized trucks and special vehicles. By contrast, in South America order intake increased sharply. Particularly in Brazil, the favorable economic development stimulated orders, whereby the prior-year performance of the Brazilian market had been weighed down significantly by the new emissions regulations that had come into force. MAN TGE recorded a decline in incoming orders.
Order intake in the bus business rose significantly, however. This was mainly thanks to growth in the coach segment in the EU27+3 region and orders placed for school buses in South America. Orders received for buses in North America were up significantly year-on-year despite restrictive acceptance of orders due to the order backlog, which continued to be high.
ORDERS RECEIVED IN THE POWER ENGINEERING SEGMENT
The long-term performance of the Power Engineering business is determined by the macroeconomic environment. Individual major orders lead to fluctuations in incoming orders during the year that do not correlate with these long-term trends.
Orders received in the Power Engineering segment in 2024 amounted to €5.3 (5.0) billion. Engines & Marine Systems and Turbomachinery generated more than three quarters of the order volume in a persistently difficult market environment.
In the marine business, for example, the first delivery of two 14V49/60 methanol-ready engines and the first delivery of three 10L49/60DF engines were ordered for one ship each in 2024. In the power plant business, orders were acquired for 64 engines and component sets for 29 completely knocked down engines of different types with an aggregate output of 1,356 MW. In the area of turbomachinery for new applications, projects for decarbonization and for advancing the energy transition led to an increase in order intakes. These include several carbon capture and storage projects and orders for large-scale heat pumps in Europe, North America and Asia. An order was also recorded for the delivery of compressors and turbines for an energy storage system in England. Noteworthy orders in the traditional business included compressors for nitric acid production and an order for the largest integrally geared centrifugal compressor for the air separation industry.