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Volkswagen:Quarterly Results/2023 Q2: Difference between revisions
Volkswagen:Quarterly Results/2023 Q2 (view source)
Revision as of 20:22, 27 July 2023
, 27 July 2023→Summary of the H1 2023 earnings call
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* CFO Arno said, "'''Volkswagen Group is more under pressure in the current pricing environment in China."''' -Q&A. | * CFO Arno said, "'''Volkswagen Group is more under pressure in the current pricing environment in China."''' -Q&A. | ||
* Despite the partnership, Volkswagen aims to increase competitiveness of its MEB platform with Horizon Robotics, with in-car entertainment with Thundersoft and next generation battery, which result in reduced cost-Q&A. | * Despite the partnership, Volkswagen aims to increase competitiveness of its MEB platform with Horizon Robotics, with in-car entertainment with Thundersoft and next generation battery, which result in reduced cost-Q&A. | ||
* '''Xpeng partnership to help them tap into white spot in their product portfolio-Q&A.''' | |||
=== Deliveries === | === Deliveries === | ||
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* ID.2 not the final model, they are still improving-Q&A. | * ID.2 not the final model, they are still improving-Q&A. | ||
* Feedback from customers and retailers is positive-Q&A. | * '''Feedback from customers and retailers is positive'''-Q&A. | ||
* Will feature the MEB platform-Q&A. | * Will feature the MEB platform-Q&A. | ||
* Haven't decided to bring smaller cars yet. | * Haven't decided to bring smaller cars yet. | ||
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=== Leverage for managers to hit their targets === | === Leverage for managers to hit their targets === | ||
* Adapt management compensation to the targets-Q&A. | * '''Adapt management compensation to the targets-Q&A.''' | ||
* Competition between the brands-Q&A. | * Competition between the brands-Q&A. | ||
* Bringing enterpreneurship mindset to the brands. | * Bringing enterpreneurship mindset to the brands-Q&A. | ||
=== Industry === | |||
* Expects the industry to grow by 4-5%, specifically in Europe and U.S. China growth rate is expected to be abit lower-Q&A. | |||
=== Shenyang plant audit === | |||
* Haven't began the audit-Q&A. | |||
* Currently at the political agreements phase-Q&A. | |||
* MSCI gave a red flag ESG rating as a result of what's alledged to be happening in the plant-Q&A. | |||
=== Shift in Europe and Germany === | |||
* Underscores their new strategy, "value over volume."-Q&A. | |||
* Production to be market-driven-Q&A. | |||
=== Dividend payout === | |||
* Strategic target of 30% is still in play despite the weak cash flow in H1-Q&A. | |||
=== Product portfolio === | |||
* The number of cars will reduce in future because of reduced number of ICE models-Q&A. | |||
* Offers individualized cars unlike Tesla-Q&A. | |||
* By reducing ICE models they will increase the model efficiency-Q&A. | |||
* '''Individualization drives higher loyalty and profit margin'''-Q&A | |||
=== Order book === | |||
* A huge part of the order book is end customers, some are fleet and some are private-Q&A. | |||
* Order book can be direct to end customer or fleet-Q&A. | |||
* Order book direct to end customer is mainly in Europe because they have " build-to-order model" where behind every order there is a customer-Q&A. | |||
=== Complexity of the business === | |||
* '''Will significantly reduce the number of models.''' | |||
* Plan to increase model efficiency. | |||
* Argues that a time might come when the EV market is large and its models will be more relevant than today. | |||
* '''Models will share the same platform, hence reducing complexity.''' | |||
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