Volkswagen Commercial Vehicles posts record sales but profit plunge in 2025
Volkswagen Commercial Vehicles (VWN) has reported strong growth in 2025 despite a drop in profits. The company delivered 428,000 vehicles, up 6% from the previous year, while revenue climbed to €16.9 billion. However, operating profit fell sharply to €245 million, down from €743 million in 2024.
The brand also announced plans for a major update in 2026, including new electric and hybrid models across its lineup.
VWN saw record demand for several key models in 2025. The Multivan achieved its best-ever year, with deliveries rising 31% to 38,700 units. The ID. Buzz also doubled its sales, reaching over 60,000 vehicles and securing a 25% share of its segment.
The company strengthened its position in Europe, remaining the market leader in 12 countries, including Germany. Despite a shrinking overall market, VWN expanded its share in electric commercial vehicles. Orders for 2025 surged by nearly a third, though some deliveries were pushed to 2026.
Financial results were mixed. While net cash flow jumped 208% to €1 billion—thanks to cost cuts and better working capital—operating profit collapsed to €245 million. The decline was partly due to provisions for potential EU CO₂ penalties and challenges in North America, including tariffs and the loss of electric vehicle incentives.
Looking ahead, VWN will roll out a major update in 2026. The refresh includes new versions of the ID. Buzz, Caddy, and Multivan, as well as plug-in hybrid variants of the Transporter and Caravelle.
VWN's 2025 results show strong sales and revenue growth, alongside a sharp decline in operating profit. The company remains Europe's top electric commercial vehicle brand, with major product updates planned for 2026. Financial discipline helped boost cash flow, but regulatory and market challenges continue to weigh on profitability.
