The Volkswagen Group (VAG) is aiming to launch more than 30 new models (Porsche included) before too long, so perhaps the company can enjoy some ice cream in its stomach. Nevertheless: The figures for the first quarter could definitely be better.
The result is a drop of as much as 20 per cent, compared with the same period last year.
The operating result in the first quarter (EBIT) was 4.6 billion euros, or just over 54.5 billion Norwegian kroner at today’s exchange rate.
More things about Volkswagen:
No in the US
Car sales for the group as a whole fell by 2 per cent, to 2.1 million.
Customs trouble in American ports is given as a reason. The United States does not allow the importation of cars with parts that may have been made using forced labor. The factory in question, in Urumqi, does not make parts – but the company uses it for quality assurance.
– As expected, the first quarter shows that we had a slow start to the year, says VAG’s finance director Arno Atlitz, according to Automotive News.
Repeats goal statements
He does not let himself be swayed, at least not while the investors are listening, and follows up:
– A strong March and good order intake, with an increase in recent months, is encouraging and should have a positive effect already in the next quarter, he says.
Volkswagen is sticking to its targets and still expects to be able to record an increase in sales revenue of 5 per cent by the end of the year.
● Porsche reports a decline in operating margin of 14.8 percent. This should be due to investments in upgrading the most expensive models, plus lower demand in China.
Quarter 1, Europe figures:
