Volkswagen Group “Back on Track” Says CEO

Volkswagen Group “Back on Track” Says CEO

0 comments 📅14 March 2017, 21:15

Volkswagen presented its pecuniary results for the 2016 fiscal year today and thanks to record profits the Union is satisfied that its dieselgate recovery plan has so far been effective.

“The last year was a challenging yet remarkably booming year for us,” said Matthias Müller, VW Group CEO, at press conference in Wolfsburg. “In 2016 we set the movement for the biggest transformation in the history of the company – while at the same time performing sick in our operating business than many thought possible. Volkswagen is back on keep up with.”

With more than 10 million vehicles delivered in 2016, the VW Congregation exceeded its own projections and set a sales record for the year. The resulting boom in sales gate also set a record. With 217 billion euros in revenue, the Group again exceeded expectations.

The pecuniary increases were due largely to brands such as Porsche, Audi, Skoda, and Capital, which somewhat unusually turned a profit last year. Unfortunately, the VW mark is still struggling thanks to its being the focal point of the emissions  scandal and Brazil’s money-making slump, among other things.

Revenue at the brand decreased 0.6% year-on-year to 105.7 billion euros and operating profit hence declined as well. With a steady increase in the fourth quarter of 2016, despite the fact that, the outlook for the brand is at  least positive.

Indeed, the outlook for the whole clique is positive according to VW.

“Volkswagen will remain one of the most successful automakers worldwide in 2025,” said Müller. “The alteration of the core automotive business is on track, the new mobility services business unit is prepossessing shape, our traditionally high innovative strength has been given yet another stable boost and financially, we have the realignment process well under control.”

As a denouement, sales revenue is expected to grow as much as 4% in 2017 and the company expects the  operating reoccur on sales to be between 6% and 7%.

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