Unless Volkswagen boss Herbert Diess pushes through more cost cuts and gets a truck float back on track, his company will be unable to close a valuation discount to peers, LiamWardProud comments:
Volkswagen said on May 2 that operating profit would be at the lower end of its expected 6.5 to 7.5 percent range in 2019. The German carmaker set aside 1 billion euros for further legal risks from its diesel emissions scandal.
Revenue in the first three months of the year was 60 billion euros. That was 3.1 percent higher than a year earlier and 2 percent higher than the median analyst forecast according to Refinitiv data. Operating profit of 3.9 billion euros was 1.5 percent lower than the median forecast.
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