The company announced an operating profit of 8.5 billion euros ($ 9.27 billion) for the first three months of the year, but noted that 3.5 billion euros of it is attributed to the coverage of goods, amid rising commodity prices prime.
Operating sales rose to 13.5% in the first quarter, according to preliminary figures, from 7.7% in the same period in 2021, when the Covid-19 pandemic and semiconductor shortages severely affected the results.
A spokesman said in March that the group had taken long-term steps with suppliers to secure raw materials, including “an extensive and forward-looking purchasing and coating program for important precious metals”.
However, Volkswagen warned last month at its annual results conference that the outbreak of war in Ukraine had called into question its annual revenue growth forecast of 8% -13%, with a 5-10% increase in deliveries. .
Volkswagen Group’s sales fell 21.9% in January-March to just over 1.89 million vehicles, with VW deliveries down 25.6%.
However, deliveries of all-electric vehicles increased by 65% to 99,100 units, the largest increase in China.
Car manufacturers have given priority to power lines, amid a shortage of semiconductors, as a way to increase revenue and stay on track with tightening European climate regulations.
BMW reported last week that its first-quarter deliveries were down 6.2%, while Mercedes-Benz was down 15% from last year. Volkswagen is set to release full first quarter results on May 4th.
If you like this article, we look forward to joining the community of readers on our Facebook page, with a Like below: