VW weathers pandemic with $10.7 billion profit Autoblog 2/26/2021 Associated Press
FRANKFURT, Germany Volkswagen said Friday it made better than expected profit of 8.8 billion euros ($10.7 billion) after tax in 2020 despite the pandemic. The world s No. 2 automaker said the rapid recovery of China, its largest single market, and resilient sales of luxury vehicles helped the bottom line.
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The company gave an upbeat outlook for this year, saying it would carry momentum from the stronger second half of the year over into earnings going forward. It predicted earnings would be in the top part of its forecast range and that sales revenue would be “significantly higher, assuming successful containment of the COVID-19 pandemic.
Christoph Rauwald, Bloomberg News A worker crosses Wolfsburg railway station car park near the Volkswagen AG (VW) headquarters in Wolfsburg, Germany, on Friday, Feb. 26, 2021. VW expects profitability to improve this year, banking on a continued recovery from the pandemic even as many economies wrestle with high infection rates and a global chip shortage weighs on the industry. Photographer: Stefanie Loos/Bloomberg , Bloomberg
(Bloomberg) Volkswagen AG expects profitability to improve this year, banking on a continued recovery from the pandemic even as many economies wrestle with high infection rates and a global chip shortage weighs on the industry.
Europeâs biggest carmaker is projecting an operating margin of 5% to 6.5% for 2021 and aiming for the higher end of that range, according to a statement issued after the manufacturerâs supervisory board meeting Friday. This compares with an average estimate of 6.4% compi
Volkswagen Guides for 2021 Sales Growth After 2020 Profit Falls — Update morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
VW expects strong rebound in sales, deliveries in 2021
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FRANKFURT Volkswagen Group said it expects revenues and deliveries to rebound strongly in the current year, shrugging off the impact of the coronavirus pandemic.
The automaker also said its operating profit, stripping out special items related to the diesel scandal, fell 45 percent to 10.6 billion euros ($12.83 billion) last year.
VW is projecting an operating margin of 5 percent to 6.5 percent for 2021 and aiming for the higher end of that range, according to a statement issued after the automaker s supervisory board meeting on Friday. We intend to carry over the strong momentum from the significantly better second half into the current year, Chief Financial Officer Frank Witter said in the statement. The programs for reducing our fixed costs and in procurement will make us more robust in the long term, he said.
Volkswagen Forecasts Profit Improvement as Car Sales Come Roaring Back msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.