Demand for premium car’s has raised margin target Of Volkswagen

Improved demand for high-margin premium cars such as Porsche and Audi has boosted vehicle deliveries and sales of Volkswagen each up by more than a fifth. The company’s operating profit margin is expected to be 5.5-7% this year, versus a previous forecast for 5.0-6.5%. Volkswagen’s operating profit came in at 4.8 billion euros ($5.8 billion) in the first quarter to March, helped by cost cuts and higher sales, versus 0.9 billion in the same period last year that was impacted by the COVID-19 pandemic.
The giant carmaker pleased investors by providing more detail about its electric vehicle strategy, including higher sales targets and plans to build six battery factories in Europe.

By Team Livestokcrates

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