Volkswagen wants to take off with a “model offensive”

Things are currently going really well at Volkswagen. After all, the traditional German company can look back on a successful 2023. And the success story is set to continue in 2024. The key to success will be new models and affordable electric cars.

CEO is optimistic

While the sales figures for electric cars are collapsing worldwide, Volkswagen is quite pugnacious in its Group balance sheet for 2023. CEO Oliver Blume stated that they “clearly see the future in electromobility”. The car manufacturer does not want to be deterred by the current headwind that can be felt on the car market. Of course, Blume is clearly referring to the discontinuation of the mobility bonus. According to the Federal Motor Transport Authority, this is currently resulting in significantly fewer e-cars being sold in Germany. However, he is aware of the challenges.

Blume says that 2024 is likely to be a “challenging year”. However, the Volkswagen boss is at least cautiously optimistic that there could be a turnaround in the near future. In general, it should be noted that Volkswagen is hardly affected by the current low point of the electric car market. The manufacturer is even forecasting a three percent increase in sales for 2024. Other car manufacturers are currently unable to demonstrate such courage. Mercedes Benz, for example, recently announced that it would refrain from its goal of a fully electric fleet by 2030 for the time being.

Volkswagen has new models in the pipeline

New models should also be a key to future success. Blume refers to this as a real “model offensive”. In view of the increasing market presence of Chinese electric cars on the German market, future success will probably not be possible without expanding the portfolio. The CEO says that “more than 30 models” are to be “launched” in 2024. But with his positive outlook, he also gives a nod in the direction of politics.

He makes no secret of the fact that there is a desire for more political support from the industry. By this, Blume certainly means the return of a mobility bonus. The ID.1 appears to be a real prestige project. According to Automobilwoche, this is likely to be launched in 2027 and will not only offer a small design. At just under 20,000 euros, the price should also be more in line with Volkswagen’s original corporate philosophy.

Before the subcompact car arrives, however, the VW ID.2all is set to cause a sensation. There is currently speculation of a market launch in 2026. In order to achieve the ambitious goals, a cooperation with Renault is rumored to be on the table, as reported by the Handelsblatt. With the presentation of the Renault R5 E-Tech Electric, the French recently proved that they know what is important when it comes to all-electric small cars.

Board of Management wants to cut its own salaries

Aside from the “model offensive”, other ways must of course also be found to increase profits. Blume wants to focus on a cost-cutting program that does not exclude the executive floor. The members of the Board of Management want to receive 5% less salary this year in order to participate in the savings program. The uplifting words from the CEO should not only ring well in the ears of investors. Fans of electromobility should also find it encouraging that Volkswagen is optimistic about the future. We hope that the plans work out.