Volkswagen Group Profit Rises Despite TDI Scandal

The Volkswagen Group has had, by any measure, a challenging year since the diesel scandal came to light, but nine months into 2016, the manufacturer is on track to be more profitable than it was last year.

Before accounting for the money it set aside to deal with the diesel scandal, the Volkswagen Group has generated 11.3 billion euros of profit so far this year. Compared to last year’s figure of 10.2 billion euros, that’s more than 10.5% better.

“This is a robust base on which we intend to push forward with our planned transformation from car manufacturer to provider of sustainable mobility,” says Matthias Muller, Chairman of the Board.

The improved profitability comes despite a minor drop in sales over the first three quarters of the year at the Volkswagen brand. VW managed to sell 3.3 million cars in the first nine months of last year, but only sold 3.2 million this year.

Volkswagen was helped along by Audi, Bentley, Porsche, and Skoda all of which saw increased sales this year.

With sales approaching pre-scandal levels at the Volkswagen brand, and rising in most of the Group’s other brands, it looks like the manufacturer is recovering well.

“As our future program and the latest quarterly results prove, the Volkswagen Group remains operational in spite of the present pressure,” concludes Muller.

The post Volkswagen Group Profit Rises Despite TDI Scandal appeared first on VWVortex.

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