Mexican Media Brands
Volkswagen’s Sales, Operating Profits Stall
Volkswagen AG reports that its revenue in 2018 rose 3% to €236 billion ($267 billion) as unit sales grew 1% to a record 10.8 million vehicles.
#economics
Share
Volkswagen AG reports that its revenue in 2018 rose 3% to €236 billion ($267 billion) as unit sales grew 1% to a record 10.8 million vehicles.
Group operating profit totaled €13.9 billion ($15.8 billion) last year, less than 1% greater than in 2017. Results were dragged down by €3.2 billion ($3.6 billion) in special charges related to the company’s diesel cheating scandal. Operating profits attributed to VW’s ventures in China slipped 2% to €4.6 billion ($5.2 billion).
But the company’s net profit climbed 6% to €11.8 billion ($13.4 billion), prompting VW to propose a dividend hike to €4.80 per common share from €3.90.
VW predicts a slight gain in unit sales in 2019 in spite of stronger headwinds caused by “continuously challenging” markets. The company expects its revenue will grow by as much as 5% this year.
RELATED CONTENT
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.