Skip to main content

VW “Right On Track” After 6-Month Report

With strong returns, doubling profits, and nearly 3 million vehicles delivered in the first half of the year, Volkswagen’s outlook is good for 2017.

Following a very shaky 2016 marred by the dieselgate scandal, there was no guarantee that the Volkswagen brand would do anything but flounder this year. That has not been the case, though.

“The Volkswagen brand is on the right track,” said brand CEO Herbert Diess. “There is strong demand for our cars throughout the world and our strategic realignment is showing positive effects on business operations.”

Between January and June, the Volkswagen brand managed to move 40 million vehicles around the world, which led to an eight percent hike in revenue for the brand. Along with cost saving measures, that led an operating profit of 1.8 billion euros ($2.1 billion), twice as much as the first half of 2016.

That means, according to VW, that the brand is matching expectations.

“We have successfully embarked on a new phase in our company,” said Diess. “Our objective is to position Volkswagen in such a way that it is fully and completely viable for the future so that we can continue to play a leading role in the automobile world of the future.”

Volkswagen feels, therefore, that they’re back on solid footing and, according to CFO Frank Witter ready to cope with transformations in the automotive industry.

That means that the automaker can get back on the offensive with new models to grow sales even further.

“We want to win market shares with new, attractive and emotional vehicles at the same time as further improving our competitiveness,” said Diess. “We want to use the positive momentum that we can feel throughout the company and in the marketplace to step up the pace both for the realignment of the Group and business operations. The Volkswagen brand is going on the offensive again”

The post VW “Right On Track” After 6-Month Report appeared first on VWVortex.



from VWVortex http://ift.tt/2tKezv6
via IFTTT

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Review: Saying Goodbye to the CC V6

For all its size and its global reach, Volkswagen is still, in many ways, a deeply human company. There was, for instance, the Bugatti Veyron an ego project if ever there was one. Then the purchase of Ducati, a move most called folly. And then there was the Phaeton, the Volkswagen that most folks can’t afford. Not only were these moves all strange, I’m sure that they made VW’s accountants furious. None of them made good business sense, but they were all deeply interesting and they all are evidence of the heart that beats at the center of VW. Among these follies is the CC, a car that everyone agrees is rakishly handsome, but that no one really wanted to buy. The car couldn’t last, but the world is brighter for its having been in it. With the approach debut of the Arteon, it seems like a good time to look back on its sadly departing predecessor. The version I drove, because I live in Canada, is a V6 Wolfsburg Edition, which apparently isn’t available in the States. Nor is the V6, not as...
Post a Comment
Read more

Mitsubishi admits it lied about MPG ratings for all vehicles in Japan

Filed under: Government/Legal , Green , Mitsubishi , Fuel Efficiency , Japan Mitsubishi says its shady fuel-economy test practices may have been used on all vehicles it sells and has sold in Japan. Continue reading Mitsubishi admits it lied about MPG ratings for all vehicles in Japan Mitsubishi admits it lied about MPG ratings for all vehicles in Japan originally appeared on Autoblog on Wed, 11 May 2016 12:36:00 EDT. Please see our terms for use of feeds . Permalink  |  Email this  |  Comments from Autoblog Volkswagen http://ift.tt/21X3bHv
Post a Comment
Read more

More 3.0-Liter TDI Settlement Details Expected by January 31

Volkswagen and the TDI Plaintiff’s Steering Committee were in court today for another status conference following the agreement in principal reached earlier this week. Little new information was given at the conference held before Judge Charles Breyer today, but the court ordered the parties to develop a formal settlement agreement, class action notices, and a class notice plan by January 31, 2017. For now, though, owners still don’t know how much to expect in compensation. Elizabeth Cabraser, lead Counsel for the Plaintiff’s Steering Committee reaffirmed in a statement today that the compensation would be “substantial.” The potential cost to Volkswagen is widely reported to exceed $1 billion, though, with an additional $225 million going into an environmental trust to help offset excess emissions. Buy back offers are still only expected for the oldest 20,000 of the roughly 80,000 VW Group vehicles sold in America with the 3.0-liter TDI engine. Those vehicles are mostly SUVs, like ...
Post a Comment
Read more