VW profit rises 3.4% in first quarter

Company criticised in Ireland over current dealings with car owners

31st May, 2016
Volkswagen's profit rose by 3.4% in the first quarter

Operating profit climbed to €3.44 billion from €3.33 billion last year, the Wolfsburg-based manufacturer said in a statement. The result included about €300 million in positive special items, including currency-related adjustments on the provisions Volkswagen set aside to cover costs related to the diesel cheating. Profit at the namesake VW brand crumbled 86 per cent to €73 million.

The company has “achieved respectable results under difficult conditions,” chief executive Matthias Mueller said. “2016 will be a...

Subscribe from just €1 for the first month!


What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

Analysis: At what point could Covid-19 be reasonably compared to a cold or flu?

Ten steps to save yourself at least €5,000 in 2022

Dan O’Brien: Our national inferiority complex fuels the move towards angry populism

Aidan Regan: ‘One size fits all’ doesn’t work for Europe’s many varieties of capitalism