Volkswagen Group Q1 operating profit down
Published:04-May-2009
By Datamonitor staff writer
The company's sales revenue for the first quarter of 2009 decreased 11.2%
The Volkswagen Group has reported that its operating profit for the first quarter of 2009 amounted to E312m, compared to E1.31 billion in the first quarter of 2008.
The company's sales revenue for the first quarter of 2009 decreased 11.2% to E24 billion, compared to E27 billion in the first quarter of 2008. Profit after tax was E243m, compared to E929m in the first quarter of 2008.
In the first three months of 2009, the Volkswagen Group has delivered 1.4m vehicles worldwide, compared to 1.57m vehicles in the same period of 2008.
Martin Winterkorn, chairman of board of management of Volkswagen, said: "We further increased our global market share in the first quarter thanks to our new model rollout and strong presence in the key sales markets.
"However, with its nine strong brands and sound financial position, our group is robust. This allowed the Group to reinforce its market position in the first quarter, and that remains our goal for the year as a whole."
