Audi And Porsche Lead Volkswagen To A 22% Gain In 1st Quarter Profits

Volkswagen Group's first-quarter operating profit rose 22 percent from a year earlier, as earnings from the Porsche and Audi brands helped to offset falling profitability at the automaker's core VW brand.

Earnings before interest and taxes increased to 2.86 billion euros ($3.97 billion) from 2.34 billion euros a year earlier, VW said in a statement today. First-quarter revenue was up nearly 3 percent to 47.8 billion euros ($66.25 billion).

"The Volkswagen group has established a strong position in recent years," and "our good start to the current fiscal year is an additional proof of this," CEO Martin Winterkorn said in the statement. "We must now continue improving our position and maintain our successful cours."

Read Article

USNA1999 - 4/29/2014 8:40:23 PM

+1 Boost

The more expensive the more people want them. Lol, are we heading back to easy credit for everyone or are the world economies getting that much better? Maybe the wealth effect back in action.

MattDarringer - 4/29/2014 11:18:54 PM

+2 Boost

But the bread and butter brand is in an implosion in the USA. Audi is next. Their new-car-same-as-the-old-car routine will cause a mass exodus.

Occarnut - 4/30/2014 12:05:30 AM

-2 Boost

Gee, I guess all of those enlightened, highly educated, young, wealthy customers that are switching to Audi at a pace faster than any other automotive brand brand (which means that they are in fact leaving a different brand) would probably be upset to learn that they made such a bad choice with respect to their vehicle. Next time you are at some really cool, cutting edge, progressive and relevant company, go ask the President of that company how he or she could have made such a stupid vehicle selection. Go ask an A8 buyer how he or she could make such a bad choice...in all likelihood with full self confidence will tell you that they do not care what you think. They like their car, and they do not need it to scream their arrival. They avoided getting a Rolls Royce for that very reason.

GermanNut - 4/30/2014 1:58:29 PM

-2 Boost

Audi's design language is changing significantly and very soon with the upcoming 2015 A4 and Q7 models.