Brand Group Core announced operating results of 1.54 billion euros in the first quarter

Brand Group Core closed the first quarter of 2026 with an operating result of 1.54 billion euros. In the structure combining volume brands, revenue was announced as 34.9 billion euros and operating margin was 4.4 percent. The number of vehicles sold is 1.23 million.

Product mix at the Volkswagen brand and US import taxes affected the results. In addition, the costs related to the end of ID.4 production in the USA were reflected in the first quarter. Therefore, it would not be right to equate the group total with the performance of a single brand.

The statement reports an operating margin of 8.3 percent for Škoda, 1.2 percent for SEAT and CUPRA, and 3.9 percent for Volkswagen Commercial Vehicles. Brand Group Core's net cash flow is minus 53 million euros; the company considers this along with seasonal working capital effects.