VW earnings fall 45 percent, Audi division earnings slip 7.1 percent in Q1

FRANKFURT, Germany – Volkswagen's namesake brand saw operating earnings slip by 45 percent in the first quarter, as it joined the ranks of European carmakers suffering a tough first quarter.
The brand earned 590 million euros before interest and taxes, compared to 1.08 billion euros in the same period a year earlier.
Audi, Volkswagen AG's luxury mainstay and a key driver of earnings, dipped to 1.31 billion euros from 1.41 billion euros a year ago.
The company's other brands include Bentley, Porsche, SEAT and Skoda. VW reported detailed earnings Monday after releasing key figures last week. The group as a whole saw net income fall 38 percent to 1.95 billion euros.



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GermanNut - 4/29/2013 1:31:45 PM

-1 Boost

A solid performance from Audi with just a 7.1% earnings decline compared to Q1 2012 considering the extremely tough market conditions in Europe.

nytimes - 4/30/2013 10:18:55 AM

+1 Boost

Outstanding spin, and it didn't leave me dizzy at all!

lexworld - 4/30/2013 10:38:35 AM

+1 Boost

...VW still trying to hock the farm to keep up with Toyota and Lexus? What a pitty...