The Volkswagen Group has published financial information for the first nine months of the year and Audi has posted a healthy operating profit.
As a result of “sales growth, positive changes in the mix and favorable exchange rate movements”, Audi’s operating profit has increased to €4.0 billion which is €0.2 billion more compared to the same period of 2014. VAG goes on to specify that earnings were negatively affected by the massive investments made in new products and technologies as well as an expansion in the company’s production network.
As for the other brands of the Volkswagen Group, Skoda’s operating profit rose from €651 million to €734 million while SEAT managed to post a €12 million operating profit which is an exceptional result compared to the same period of last year when they had an operating loss of €82 million. Moving on to Bentley, they are down from €125 million to €57 million because of lower sales and higher upfront expenditures despite the favorable exchange rates and lower costs.
As for Porsche, they are up from €1.9 billion to €2.5 billion while the Volkswagen core brand increased from €1.7 billion to €2.2 billion. Volkswagen Commercial Vehicles posted an operating profit decrease from €378 million to €313 million while Scania’s performance increased from last year’s €700 million to €748 million.
Lastly, the operating profit achieved by Volkswagen Financial Services has increased from €1.2 billion to €1.4 billion.