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
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.