Sales of higher-margin sports utility vehicles and cost cuts helped Volkswagen s...
FRANKFURT - Sales of higher-margin sports utility vehicles and cost cuts helped Volkswagen shrug off a 1 billion euro legal charge to meet first-quarter operating profit forecasts on Thursday, sending its shares 4.5 percent higher.
Luxury brands Porsche and Audi remain key profit contributors, making up around 40 percent of group EBIT. Ongoing supply bottlenecks caused by difficulties getting cars certified for stricter emissions tests, as well as economic weakness in China, South America and Russia, and legal issues pose risks to VW Group’s business, the carmaker said.
Volkswagen stuck to its forecast of higher unit sales, revenue growth of up to 5 percent this year, and for a group operating return on sales of 6.5-7.5 percent.VW maintained its guidance for free cashflow to reach 10 billion euros by 2020, despite an inventory build-up due to difficulties getting vehicles cleared for sale in China and the United States.
VW said the provisions are not related to prosecutor charges filed last month against former VW CEO Martin Winterkorn and four other VW executives who are accused of fraud for failing to report systematic emissions cheating.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Volkswagen shrugs off 1 billion euro legal hit with higher SUV sales in first quarterSales of sports utility vehicles and cost cuts helped Volkswagen shrug off a 1 b...
और पढो »
Mayor crashes SUV into police officer on motorcycle, sends him flying into fountainThe mayor of Inglewood, California, is counting his blessings after a horrifying car crash on Tuesday sent his SUV hurtling into a police officer.
और पढो »
2019 BMW X7: This ‘Driving Machine’ Isn’t Remotely ‘Ultimate’Time has turned BMW's golden slogan—'The Ultimate Driving Machine'—into lead weight around the company’s neck, says Dan Neil
और पढो »
Mercedes-Benz exec reveals why Chinese society demands 7 seats in a carChinese families need to fit four grandparents, two parents, and one child into a single car, even if it's a compact SUV.
और पढो »
We drove a $39,000 Toyota RAV4 and a $32,000 Subaru Forester to see which one is the better compact SUV. Here's the verdict.The base, front-wheel-drive 2019 Toyota RAV4 starts at $25,500 while the 2019 Subaru Forester starts at $24,295.
और पढो »
Alibaba and Ford unveil car vending machine in GuangzhouAlibaba and Ford have unveiled a car vending machine in Guangzhou where buyers can purchase a Mustang in under 10 minutes, SCMP reports.
और पढो »
CEO Mary Barra Says GM Will Have An EV PickupGM CEO Mary Barra says the automaker will have its own EV pickup, a few weeks after talks broke down with EV pickup/SUV startup Rivian.
और पढो »
Former Florida cop gets 25 years in fatal shooting of black motoristA former Florida police officer was ordered to spend 25 years in prison for the fatal on-duty shooting of a black musician whose SUV had broken down after a late-night concert, one of the toughest sentences ever handed down in an on-duty shooting.
और पढो »
Volkswagen shrugs off 1 billion euro legal hit with higher SUV sales in first quarterSales of sports utility vehicles and cost cuts helped Volkswagen shrug off a 1 b...
और पढो »
Volkswagen earnings: Q1 operating profit comes at 3.9 billion euros, vs. 3.9 billion euros expectedIn a report issued at its Global Supertrends Conference, Credit Suisse discussed 'the most significant societal changes' that could result in tangible investment opportunities.
और पढो »
Volkswagen softens outlook as first-quarter profit falls, legal woes weighVolkswagen softens outlook for passenger car business as first-quarter profit falls
और पढो »