How Volkswagen Group went from 3.3% Margin to In 2016, to 48% margin in 2025
Between 2016 and 2025, Volkswagen Group grew revenue by 48% — from €217 billion to €322 billion. Over the same period, its operating margin went from 3.3% to 2.8%. It sold half again as much for the same money. This is the single most important cautionary pattern for any enterprise scaling AI in 2026: growth is not the same as mutation.
