Europe’s largest car manufacturer Volkswagen recorded a slump in profits at the beginning of the year. The operational result decreased to EUR 2.8 billion from 4.6 billion euros a year ago, the company said on Wednesday.
The return on sales fell to 3.6 percent from 6 percent in the first quarter. The market was expected to win around four billion euros and a return of around 5 percent.
Special effects through emissions
VW referred to special effects of 1.1 billion euros that pressed the result. Among them are around 600 million euros in provisions related to CO₂ regulation in Europe, it said. In the EU, stricter CO₂ limit values apply from this year. However, the EU Commission recently gave companies more time to achieve these goals.
Sales increased by around 3 percent to around 78 billion euros. The group adheres to its forecast for the year as a whole. However, this does not contain the effects of the US tariffs, since the effects and their interactions could not be finally evaluated at the moment.
The news did not play a role on the stock exchange. Shortly before, US President Trump had Restert back in the international trade conflict And determined determined tariffs that have just entered into force for 90 days. During the break, a universal duty rate of 10 percent should apply. This does not apply to China – instead, Trump imposed on Chinese imports. In the aftercare platform Tradegate, the Volkswagen share then jumped up like many others.