|
China and the
group’s multitude of brands helped boost VW Group’s 3rd quarter sales
4.2 per cent to 2.49m units, lifting the group’s nine months global
vehicle sales 2.4 per cent to 7.6m. More upbeat still, operating profits
in the third quarter - excluding China - jumped 17 per cent to €3.75bn,
boosting nine months group operating profits 10.5 per cent to €11.3bn.
Before exceptionals, the group’s 3rd quarter operating margin rose a
full percentage point to 7.2 per cent and 7 per cent for the nine months
to September this year
For Volkswagen’s hounded senior bigwigs there was more soothing news
from China’s still sizzling car market - the group’s single biggest
market.
Here the group’s share of nine months joint venture operating profits,
which are not included in declared VW group profits, eased back only
marginally to €3.59bn.
Yet more comfort for Volkswagen’s already sleep-deprived senior
management: aside from a 2.4 per cent rise in 9- months global vehicle
deliveries to a notably higher than feared 7.6m vehicles, net liquidity
at this year’s 9-months stage jumped 12.1 per cent to a comforting
€31.1bn.
Besides Škoda, which emerged as yet another pillar of strength, prestige
sector Audi, although impeded by the imminent changeover to its new Q5,
remains with Porsche the group’s main profit dynamo...more
MORE
LIKE THIS:
|
Volkswagen, is this as bad as it gets? 13 Sep 2016
|
Volkswagen, more pain and no gain
10 May 2016
|
Volkswagen buffeted by stiffening headwinds in March
11 Apr 2016
|
