VW transporter
In 2019, the van division had made an operating profit of just over half a billion euros.
Hamburg Volkswagen expects due to high investments and fines for climate violations in its van division According to business circles, at a loss this year. This can be assumed if one adds up the already known burdens, said a person with knowledge of the figures of the Reuters news agency on Friday.
Not yet included the consequences of the corona crisis. As with the other brands of Volkswagen Production is also suspended in Hanover due to the pandemic for VW commercial vehicles.
In a statement to a preliminary report by “Spiegel”, according to which the operating loss should be around half a billion euros, the company said that the division is going through the greatest transformation in its history. For this, “consciously put up with two difficult years,” said a spokesman.
In the original plans for 2020 and 2021, the VW subsidiary had “expected negative effects” due to the high investments and development costs as well as the impending CO2 penalty payments. Because of the corona pandemic, no forecasts are currently possible for the current year.
The van division had models in 2019 like the Caddy city van, the larger Crafter or the Multivan made a good half a billion euros in operating profit. The brand is currently renewing its model range and is also converting production to electric cars. In addition to the Transporter T6.1, the new T7 and the Electric Bulli ID Buzz will roll off the assembly line in Hanover from next year.
According to “Spiegel”, a new austerity program should generate a good 400 million euros by the end of the year, so that the bottom line would be a loss of around 100 million euros. VW did not comment on the amount of the expected loss.
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