Skip to main content

VW Group Announces Record Earnings and Sales

Volkswagen has reported record earnings in 2017. Or, as they have so eloquently put it, “systematic implementation of the strategy is paying off.”

The Volkswagen Group reported today that its earnings, deliveries, and profits were all up significantly for 2017, with some of those numbers hitting record highs.

Looking ahead, we – like the entire industry – are facing major challenges and radical change,” said Matthias Müller, CEO of Volkswagen AG. “The excellent financial result provides a strong basis for this and gives us every reason to be confident.

Overall, the VW Group reported revenues of EUR 230.7 billion, or around US $283.9 billion. That’s thanks largely to the healthy performance of VW Financial Services. Charges related to North American TDI models impacted profits, but the total still climbed by EUR 2.4 billion to hit EUR 17.0 billion for the year.

Deliveries to customers were also a record high. VW Group companies delivered 10.7 million vehicles in 2017. That’s up by around 430,000 vehicles from last year.

With the improved profits and sales, VW Group is proposing much bigger dividends for shareholders. Up from EUR 2.00 to 3.90 per ordinary share.

For 2018, the VW Group Board of Management expects the growth pace to slow down, but for 2018 deliveries to still slightly exceed 2017’s record. they expect revenue to be up five percent and profit up between 6.5 and 7.5 percent for the year.

The post VW Group Announces Record Earnings and Sales appeared first on VWVortex.



from VWVortex http://ift.tt/2Frsa13
via IFTTT
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

Waterfest Moves to Atco Dragway

Waterfest 24 will be held at Atco Dragway, in Atco, New Jersey. The summer event will take place at its new venue on July 21 and 22. Long held in Englishtown, New Jersey, the festival has been such a large part of the VW scene that the latest iteration of the Golf even comes with optional “Englishtown” wheels . The new venue, however, is an NHRA drag track a scant 52 miles southwest of Englishtown. The ¼ mile drag track opened in 1960, which makes it the oldest drag strip in New Jersey. The announcement came today on a social media post that announced the new location. Waterfest is North America’s largest VW/Audi show. As many 20,000 people show up for the annual show, making the second largest show in the world—with Worthersee being number one. 2018 will be Waterfest’s 24 th year in existence. The post Waterfest Moves to Atco Dragway appeared first on VWVortex . from VWVortex http://ift.tt/2GQjkuc via IFTTT
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