Volkswagen reduced quarterly profit by 7.5%

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The quarterly report of the German car manufacturer Volkswagen showed a decrease in net profit in the first quarter by 7.5% compared to the same period a year earlier to 3.05 billion euros. As noted in the company's message, deductions to reserves made by Volkswagen in connection with significant legal risks in the amount of 1 billion euros were the main reason for the fall of the indicator. The reduction in operating profit to 3.9 billion euros confirmed the forecasts of economists. Revenue during the earnings period amounted to 60 billion euros, rising by 3.1% over the year. The concern reduced car production by 2.6% to 2.66 million vehicles. The sales rate of 2.58 million vehicles recorded an annual decline of 6.7%. At the same time in the Asia-Pacific region there was a decrease in sales, Western Europe and South America showed their growth.

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