VOLKSWAGEN GROUP REPORTS GOOD PROFITS
The Volkswagen Group has released some financial figures for the period of nine months ended on 30 September 2016. There are some interesting bits and pieces in there, some expected, others not so much. We won’t delve deep into things. Suffice to say, the Volkswagen Group is currently being “carried” by Audi, Porsche and the Volkswagen brand itself, financially speaking anyway.
Starting with the mother brand itself, VW sold 3.2 million passenger vehicles globally between 1 January and 30 September 2016, down from 3.3 million during the same period last year. Its operating profit was €1.2 billion (about R18 billion). Audi sold 1.2 million vehicles and made a mammoth €3.9 billion (R58 billion) profit, while Porsche reported sales of 177 000 cars and a profit of €2.9 billion (R43 billion). Total Group revenue was recorded at €159.9 billion (R2.4 trillion), including contributions from the likes of Skoda, SEAT, Bentley, Lamborghini and MAN Trucks.
Interestingly Volkswagen could overtake Toyota again as the biggest car maker in the world this year. During the period under review, VW brands sold 7.61 million vehicles, compared to Toyota brands’ 7.53 million. At this rate the German company is looking at around 10.1 million total Group unit sales for the year.
