VW Q1 earnings down 38%
Complex Made Simple

VW Q1 earnings down 38%

VW Q1 earnings down 38%

Volkswagen has said its net profit has dropped sharply lower in the first three months of the current year as a result of the "difficult market environment," AFP has reported. Europe's biggest carmaker its net profit slumped by 38.2% to €1.946bn ($2.5bn) in the period from January to March. Operating profit fell by 26% to €2.344bn on a 1.6% decline in revenues to €46.565bn. Looking ahead to the full year, VW said it expected to "outperform the market as a whole in a challenging environment and that deliveries to customers will increase year-on-year."

    Author
    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

    © 2021, ADigitalcom. All rights reserved