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VW Group Revenue, Profits Rise
Volkswagen AG’s retail sales slipped in April-June. But revenue and operating profits improved for the quarter and through the first half of 2019.
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Volkswagen AG’s retail sales slipped in April-June. But revenue and operating profits improved for the quarter and through the first half of 2019.
The company’s global vehicle deliveries for the period declined 3% to 2.76 million units, dragged down by a slump in Asia Pacific. But group revenue grew 7% to €65.2 billion ($72.6 billion).
VW’s second-quarter pretax earnings surged 22% to €5.5 billion ($6.1 billion). Net profits climbed 24% to €4.1 billion ($4.6 billion).
Through the first half of 2019, VW Group’s vehicle deliveries retreated 4% to 5.34 million units, hurt by a 5% drop to 2.03 million units in Asia Pacific. Half-year sales revenue grew 5% to €125.2 billion ($139.5 billion).
Pretax earnings in January-June advanced 7% to €9.6 billion ($10.7 billion). Net income climbed 8% to €7.2 billion ($8 billion).
For the full year, VW Group expects its vehicle deliveries will slightly surpass last year’s total in spite of a slight decline in the global market overall. The company anticipates its revenue will rise 5% compared with 2018.
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