Porsche And Audi Bouy Volkswagen Profits In First Quarter
Agent009 submitted on 4/30/2013 Official Bell & Ross Timestamp: 10:36:34 AM
1 user comments | Views : 3,912 | Category: Auto Sales | Source: | SOURCE: www.detroitnews.com
Volkswagen AG, Europe's biggest carmaker, said the addition of luxury manufacturer Porsche partly offset a drop in first-quarter operating profit at the VW
detroitnews.com/article/20130430/AUTO0104/304300319/1148/rss25#" class="itxtnewhook itxthook" style="font-weight: normal; font-size: 100%; font-style: normal; text-decoration: none; border: 0px none transparent; padding: 0px; background-color: transparent; background-image: none; display: inline;">namesake brand caused by a recession in its home region.
The Audi division retained its position as VW's largest earnings contributor with 1.31 billion euros ($1.71 billion) in first-quarter earnings, or 56 percent of the group total versus 45 percent a year earlier.
VW-brand profit amounted to 590 million euros, ($773 million), falling 9 percentage points to 25 percent of the total.
Porsche, which was integrated into VW in August, generated 24 percent of parent-company earnings.Read Article