The Volkswagen Group has managed to post record deliveries in the third quarter as a result of increasing Audi and Porsche sales. VW managed to beat the analyst estimates by posting earnings (before interest & taxes) of €3.23 billion which represents a massive 16 percent increase, with sales in the third quarter going up by 4.1 percent to a record 2.43 million cars.
The increasing sales in Europe and China have managed to offset a lower demand in the Americas, with quarterly deliveries of Audi and Porsche models (which represent about two-thirds of VW Group’s earnings before interest & tax) increasing by 7.2 and 25 percent, respectively. In this interval, Audi sold 429,250 cars whereas Porsche delivered 47,800 units.
Audi and Porsche sales so far this year have reached 1.3 million cars (10 percent increase) and 135,600 units (13 percent boost), respectively. Moreover, Audi has managed to post an increase in operating profit in the third quarter of six percent to 1.16 billion euros while the operating profit in the first nine months of the year rose from €3.7 billion to €3.8 billion.
Skoda has also been doing a very good job as the third quarter operating profit went up by a massive 77 percent to €226 million, fueled by the demand for the Rapid and Rapid Spaceback.