VW Sales, Profits Continue to Rise

Volkswagen Group reports its sales grew 10% to €52.7 billion in the first quarter of 2015 as retail passenger car sales rose 2% to 2.49 million unit.

The company's pretax and operating profits climbed 18% to €4 billion and 17% €3.3 billion, respectively. Net profit after taxes jumped 19% to €2.9 billion.

All car divisions reported operating profit improvements in January-March:

• Audi grew 8% to €1.4 billion.
• Porsche gained 10% to €765 million.
• VW Passenger Cars surged 17% to €514 million.
• Skoda climbed 31% to €242 million.
• Bentley advanced 9% to €49 million.
• SEAT reversed last year's €36 million first-quarter loss with a €33 million operating profit.

Quarterly operating margins for automotive division ranged from 2% (Volkswagen brand) to 15.1% (Porsche). The division's net liquidity rose to €20.8 billion from €17.6 billion.

Operating profits for the company's commercial vehicles unit increased 22% to €165 million. But slumping markets in Brazil and Russia caused profits from the group's heavy-truck business to fall 7% to €237 for Scania and 50% to €34 million for MAN.