(FILES) This file photo taken on April 22, 2016 shows a damaged Volkswagen logo seen on the boot af a car in Wolfsburg. / AFP / dpa / Julian Stratenschulte
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Volkswagen's underlying profit fell less than expected in the first quarter as demand for upmarket Audi and Porsche models helped to offset a hit to VW sales from its emissions test cheating scandal.Europe's biggest car maker said Tuesday operating profit before one-off items fell 5.9 percent to 3.1 billion euros ($3.5 billion) on a 3.4 percent drop in sales revenues.That was still well down on a profit of 514 million in the first quarter of 2015, with sales revenues down 4.6 percent and an operating margin of just 0.3 percent.Volkswagen shares, which hit an 8-month high heading into the results, were down 2.65 percent at 134.3 euros at 1010 GMT.However, Volkswagen reported a 25 percent plunge in operating profit at its two Chinese joint ventures -- which are not included in quarterly results.
FOLLOW THIS ARTICLE