By Mauro Orru

Volkswagen AG's namesake brand is expecting a significant increase in electric-vehicle deliveries this year, which will continue to be marked by a highly challenging environment in terms of supply, commodity and energy prices as well as the geopolitical situation.

Volkswagen Passenger Cars said Wednesday that it expects an operating return before special items of more than 4% this year, up from 3.6% that the brand reported for 2022.

The brand delivered 4.6 million vehicles globally last year, down 6.8% on year. Still, sales climbed 8.7% to 74 billion euros ($79.42 billion).

Operating profit before special items jumped 22.5% to EUR2.6 billion, with operating net cash flow coming in at EUR1.9 billion.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

March 15, 2023 06:23 ET (10:23 GMT)

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