The Volkswagen Group makes record profits – despite losing billions in the diesel crisis. Sales increased in the first half of 2018 to 119.4 billion euros. In the same period of the previous year, it amounted to 115.3 billion euros. The profit increased compared to the same period last year by 2.1 percent to 6.6 billion euros. there cost the diesel crisis the group alone 1.6 billion euros between March and June.
“The revenue and earnings growth is very solid,” said Volkswagen CEO Herbert Diess. “And we delivered more vehicles than ever before.” Worldwide, the Volkswagen Group delivered 5.5 million vehicles in the first half of the year. That meant an increase of 7.1 percent over the same period last year.
Almost all of the Group’s twelve brands were able to record revenue and earnings growth. Turnover for the core VW brand was particularly strong at 7.7 percent. Only Bentley wrote red numbers.
For the second year Diess expects challenges in the context of the diesel affair and by international trade conflicts. “We have a lot of work to do in the coming quarters, especially with regard to switching to the new WLTP test cycle.” The WLTP test is intended to provide more reliable exhaust emissions. Volkswagen rented for retrofitting Thousands of additional parking spaces to mark non-registered new cars. “Growing protectionism also poses major challenges for the globally networked automotive industry.”
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