German automaker Volkswagen’s shares rose over 6% on Tuesday becoming the automaker’s biggest one-day gain in eleven months. The shares rose after call with analysts fuelled bets that the German car maker might unveil fourth-quarter sales above current market expectations when it discloses results in March. The stocks outperformed European auto stocks and Germany’s benchmark DAX index. Volkswagen shares rose 5.6% on the day by 1553 GMT, while the DAX fell 0.2%.
The analysts call delivered a confident message about the fourth quarter and 2024, Stifel analyst Daniel Schwarz told Reuters. Atrader said the pre-close statement was a relief, given the recent stock battering. “Our take-away is clearly positive regarding Q4 and 2024. VW says that Q4 revenues benefit from higher unit sales. Accordingly, revenues should be up sequentially and y-o-y and probably exceed current consensus estimates of 80 billion euros. VW made a few comments on 2024. S&P expects global volumes to increase by around 3% and VW should probably grow in line with that,” the trader wrote in an email to clients.
The Volkswagen brand saw a significant increase in deliveries last year, with around 4.87 million vehicles handed over to customers worldwide. The figures exceeded the previous year’s numbers in all regions. The increase in deliveries overall was 6.7 per cent. Demand for electric mobility also grew as the brand handed over about 394,000 fully electric vehicles to customers worldwide last year, which corresponds to an increase of 21.1% compared to the previous year.
In a separate development, the company launched the facelift version of Golf with a next-generation infotainment system, a more intuitive operating concept, a sharper front and rear end design as well as efficient drive systems. The plug-in hybrid drives now come with an increased all-electric range of about 100 kilometres. Additionally, an illuminated Volkswagen logo adorns the front for the first time on a Golf.
The new infotainment system gets ChatGPT integration, the front and rear have been revamped and there is new light design. New assist systems have made parking easy while there is also a new powertrain range on offer.