Volkswagen Group expects strong increases in vehicle sales and revenue this year as the automaker benefits from full order books and better access to semiconductors.
Revenue is forecast to grow by 10 percent to 15 percent, indicating 2023 revenue of 307 billion euros to 331 billion euros. Global deliveries are expected to rise 14 percent to about 9.5 million vehicles.
Operating return on sales is expected to be in the range of 7.5 percent to 8.5 percent, compared with 7.9 percent in 2022, VW said in a statement on Friday.
"We expect the supply chain bottlenecks to gradually ease in the current year, allowing us to service the high order backlog," Chief Financial Officer Arno Antlitz said.
It forecasts operating returns as high as 8.5 percent — roughly on par with last year's result, but better than analysts expected.