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The German carmaker’s sales revenue and operating profit increased in the first six months of 2019 despite a fall in global deliveries.
The Volkswagen brand’s sales revenue grew 3.4% in the first half of the year to €44.1 billion, attributed to an improved product mix. Operating profit before special items was 7.4% higher than in the corresponding period of 2018, at €2.3 billion, and operating return on sales increased to 5.2%. However, worldwide deliveries dropped 3.9% in the first six months of the year to 2,998,200 units “as a result of the overall weak market conditions”.
According to Dr Arno Antlitz, Board Member for Finance, Volkswagen, the operating profit was supported by factors including the continuing product offensive, the optimisation of fixed costs and progress with the turnaround in the regions. “We intend to use this positive momentum to secure our return on sales targets. We will further strengthen our competitive position through targeted investments in e-mobility and digitalisation”, he said.
Volkswagen says it is continuing its product offensive this year, with the addition of SUV models such as the new T-Cross to its portfolio. Demand for these model variants is said to continue to be strong in many regions.