1 Sales revenue

STRUCTURE OF GROUP SALES REVENUE 2019

€ million

 

Passenger Cars and Light Commercial Vehicles

 

Commercial Vehicles

 

Power Engineering

 

Financial Services

 

Total Segments

 

Recon­ciliation

 

Volkswagen Group

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vehicles

 

154,377

 

17,387

 

 

 

171,764

 

−14,552

 

157,212

Genuine parts

 

13,329

 

3,464

 

 

 

16,793

 

−117

 

16,676

Used vehicles and third-party products

 

12,583

 

1,415

 

 

 

13,997

 

−549

 

13,449

Engines, powertrains and parts deliveries

 

11,496

 

641

 

 

 

12,137

 

−21

 

12,116

Power Engineering

 

 

 

3,997

 

 

3,997

 

−2

 

3,994

Motorcycles

 

603

 

 

 

 

603

 

0

 

603

Leasing business

 

986

 

1,735

 

0

 

30,795

 

33,517

 

−4,370

 

29,147

Interest and similar income

 

235

 

5

 

 

8,031

 

8,271

 

−205

 

8,066

Hedges sales revenue

 

−143

 

−18

 

 

0

 

−161

 

171

 

11

Other sales revenue

 

8,808

 

1,814

 

 

1,334

 

11,956

 

−597

 

11,359

 

 

202,273

 

26,444

 

3,997

 

40,160

 

272,875

 

−20,242

 

252,632

STRUCTURE OF GROUP SALES REVENUE 2020

€ million

 

Passenger Cars and Light Commercial Vehicles

 

Commercial Vehicles

 

Power Engineering

 

Financial Services

 

Total Segments

 

Recon­ciliation

 

Volkswagen Group

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vehicles

 

129,913

 

13,385

 

 

 

143,298

 

−13,703

 

129,595

Genuine parts

 

11,755

 

3,249

 

 

 

15,004

 

−118

 

14,886

Used vehicles and third-party products

 

11,716

 

1,455

 

 

 

13,171

 

−637

 

12,535

Engines, powertrains and parts deliveries

 

12,625

 

669

 

 

 

13,294

 

−41

 

13,253

Power Engineering

 

 

 

3,640

 

 

3,640

 

−2

 

3,638

Motorcycles

 

567

 

 

 

 

567

 

 

567

Leasing business

 

767

 

1,698

 

0

 

31,608

 

34,073

 

−4,334

 

29,739

Interest and similar income

 

192

 

8

 

 

7,707

 

7,907

 

−261

 

7,646

Hedges sales revenue

 

−357

 

−18

 

 

0

 

−375

 

30

 

−345

Other sales revenue

 

8,806

 

1,709

 

 

1,463

 

11,978

 

−608

 

11,370

 

 

175,984

 

22,156

 

3,640

 

40,778

 

242,557

 

−19,673

 

222,884

For segment reporting purposes, the sales revenue of the Group is presented by segment and market.

Other sales revenue comprises revenue from workshop services and license revenue, among other things.

Of the sales revenue recognized in the period under review, an amount of €6,815 million (previous year: €6,333 million) was included in contract liabilities as of January 1, 2020.

€345  million (previous year: €359 million) of the sales revenue recognized in the period under review is attributable to performance obligations satisfied in a prior period.

In addition to existing performance obligations of €3,676 million (previous year: €3,967 million) in the Power Engineering segment, most of which are expected to be satisfied or for which sales revenue is expected to be recognized by December 31, 2021, the vast majority of the Volkswagen Group’s performance obligations that were unsatisfied as of the reporting date relate to vehicle deliveries. Most of these deliveries had already been made at the time this report was prepared, or will be made in the first quarter of 2021. The calculation of the amounts for the Power Engineering Business Area took account of both contracts with a term of up to one year and service contracts under which the Volkswagen Group realizes sales revenue in exactly the same amount as the customer benefits from the services rendered by the Company. In the case of variable consideration, sales revenue is only recognized to the extent that there is reasonable assurance that this sales revenue will not subsequently have to be reversed or adjusted downward.