After-tax profit fell more than a quarter in July-September to 2.13 billion euros, as Dax company announced Friday in Wolfsburg.
This was because Volkswagen had to wipe out 1.9 billion euros at the end of the software cooperation with the Argo holding. VW and its partner Ford gave up running robot cars this week. VW has confirmed annual targets for sales and earnings, but only sees deliveries at 8.9 million vehicles from the previous year. Until now, VW had targeted an increase of 5 to 10 percent.
Day-to-day business was much better than in the previous quarter, which was hit hard by supply bottlenecks as sales rose 24 percent to €70.7 billion. Earnings before interest and taxes, which VW uses to measure its operational success, increased by around 53 percent to €4.27 billion. However, it was weaker than analysts had previously predicted.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
