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Posts Tagged ‘Volkswagen profits’

Volkswagen Reports 20 Percent Profit Jump

Audi, Porsche results lead to strong results.

by on Feb.27, 2015

VW CEO Martin Winterkorn is expressing caution about 2015 after a strong 2014.

Volkswagen reported a 20% increase in net profits in 2014 and despite predicting it would meet it’s lofty ambition of selling 10 million units this year – three years early – it is cautious about 2015.

“Given the subdued growth prospects in regions outside China, there is no guarantee that 2015 will be a successful year – either for the industry or for the Volkswagen Group”, said Chief Financial Officer Hans Dieter Pötsch.

Automotive Insight!

The automaker was led by strong sales years by its luxury unit, Audi, and sports car maker, Porsche. Actually, if you include heavy-duty trucks, VW exceeded that number by delivering a total 10.14 million, which is an increase of 4.2%. However, the number was meant for passenger cars and it expects to hit the number. (more…)

Volkswagen Reports Jump in Q1 Profitability

Group rides Audi, Porsche, heavy trucks to increase.

by on Apr.29, 2014

VW CEO Martin Winterkorn announced the automaker saw operating profit rise 21.8 percent during the first quarter.

Volkswagen AG enjoyed a strong first quarter reporting a 26.8% increase in net income as well as a 21.8% rise in operating profit on just a 2.7% jump in revenue. Most of the company’s brands saw an increase in operating profit, except its namesake brand, Volkswagen.

VW’s operating profit was about $610 million for the quarter compared with about $815.2 million a year ago. The company said, “it was negatively impacted by lower sales volumes, negative exchange rate trends especially in South America and Russia and higher upfront investments in new technologies, while lower material costs and improvements in the mix had a positive effect.”

Global Outlook!

Porsche recorded an operating profit of $957.6 million in the first three months compared with $791.7 million for the same period last year. (more…)