Volkswagen Reports 30% Drop in Its 2024 Profits

March 11, 2025 (EIRNS)—Rising costs and the decline in sales in China have hit Germany’s leading carmaker, Volkswagen, hard. Last year, the crisis-ridden group recorded a drop in profits of almost 31%. On balance, VW earned €12.4 billion, 30.6% less than in the previous year. The former profit driver, China, generated significantly lower earnings, as Chinese carmakers increased their share in total sales. In addition, high costs were incurred for the closure of the Audi plant in Brussels, among other things.