The new Volkswagen ID. EVERY1 is displayed during the presentation during the presentation of the Volkswagen ID. EVERY1 on March 5, 2025 in Dusseldorf, Germany.
Andreas Rentz | Getty Images
German autos giant Volkswagen reported a 15% year-on-year drop in annual operating profit on Tuesday, citing increasing costs and “extraordinary expenses” associated with its restructuring strategy.
It posted a revenue of 324.7 billion euros ($352.8 billion) in full-year 2024, up from 322.3 billion euros last year. The automaker said it expects sales revenue to exceed the previous year’s figure by up to 5% in 2025.
This breaking news story is being updated.
