Despite fewer sales, Volkswagen earned almost twice as much in the first quarter as a year earlier. Earnings after taxes rose year-on-year from 3.4 billion to 6.7 billion euros, as the Dax group announced on Wednesday. The Wolfsburg had already presented key data on the course of day-to-day business. Before interest and taxes and before special items from the diesel affair, the operating result rose from 4.8 billion to 8.5 billion euros. Of this, 3.5 billion euros come from papers with which VW hedges against rising raw material prices. But the actual business was also doing well thanks to higher sales prices, especially for the more expensive brands: VW delivered a fifth fewer vehicles to customers due to the lack of chips, and in China there was a drop in sales of 23.9 percent. But shrinking the total number of cars and diverting remaining electronics into full-size and e-models is keeping profits up so far. Sales increased slightly to 62.7 billion euros. The management around boss Herbert Diess confirmed the annual forecasts, but limited that the effects of the war in Ukraine and the restrictions on the fight against the pandemic in China on the business could not be conclusively assessed.
Volkswagen – profit doubled – economy
