Volkswagen Group in the first quarter profits jumped 40% cost reduction initial results
Volkswagen Group recently announced the first quarter of this year's financial report, operating profit up to 40% growth. Volkswagen said: Even if the current car sales show a certain decline, but the rise in operating profits show that enterprises in a healthy development track, which also shows that with the diesel emissions scandal to resolve, operating costs are gradually reduced.
Group profit growth, thanks to the core brand cost control results. From the performance of the first quarter, Skoda and Porsche brand showed rapid growth, Audi due to the impact of the Chinese market, profits and sales fell double, while the Bentley brand losses are narrowing.
While Volkswagen has given more "explanations" to the decline in Audi and stressed that new models and technologies are being introduced, the data show that Audi's operating profit fell from € 1.3 billion to € 1.2 billion in the first quarter.
Data show that the first quarter, the Audi brand in the global sales of 422600 new cars, down 7.3%; in March, the Audi brand sales of 173450, down 6.8% over the same period last year. In the Chinese market, the Audi brand in the first quarter sales of 108,707, compared to the same period last year fell sharply 22.1%; March month, the Audi brand sales in China 41371, down 18.9%.
Skoda brand operating profit increased by 32% to 415 million euros; Seattle brand operating profit from 54 million euros to 56 million euros.
Bentley brand losses from 54 million euros to 30 million euros. Volkswagen said the new product mix and positive exchange rate policy, making Porsche's operating profit reached 932 million euros.
Despite last year, Volkswagen beat Toyota Motor Corporation, becoming the world's first sales, but the low profit margins of the short board has been criticized. Relevant investors also said that the Volkswagen Group and its brands are in the transition stage, traditionally been subject to high fixed and R & D costs dragged down the situation is changing, is to make Volkswagen Group become more commercial attraction.
Volkswagen Group's long-term goal is to increase the operating profit margin of the brand to 6% -7%, although this value is still lagging behind the French PSA Group and Renault.
Relevant consulting firm also said that Volkswagen Group quarterly data of strong performance, showing its strong ability to change. At present the Volkswagen brand profit margin of 4.6%, the Audi brand profit margin of 8.7%, Skoda's profit margins as high as 9.6%, while the Seattle brand profit margins also showed a record high of 2.3%.
