Volkswagen Will Power Through Dieselgate Lawsuits And Post Record Profits In 2017

Volkswagen Group will report excellent group results this year, CEO Matthias Mueller said, helped by expected record vehicle sales and by spending cuts.

VW's vehicle sales appears to have weathered the storm following the emissions scandal of September 2015, which has cost the company billions of euros in fines and penalties.

"It will certainly be quite outstanding in operational terms," Mueller told Germany weekly paper Welt am Sonntag when asked to sum up the 2017 business year. VW is due to publish detailed 2017 results on March 13.

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MDarringer - 12/28/2017 1:32:45 PM

-4 Boost

VW crowing about record profits is arrogant and demeaning to all they have injured.

qwertyfla1 - 12/28/2017 2:00:54 PM

-4 Boost

Exactly -how about all the customers world wide that will have diminished resale values of there VW products because of VW's criminal negligence and fraud. Here comes the Hateraid.

atc98092 - 12/28/2017 2:57:05 PM

+6 Boost

Only speaking for the US market, but there is no diminished value for diesel VW or Audi cars. Now because you can't buy them new any longer, they are worth as much or more than before this started. Also, the payments I received from VW were partially for such compensation. I sold my Passat back for what I paid for it after driving it for two years. Basically I drove it for two years for the cost of fuel and insurance. That was pretty good compensation.

TheSteve - 12/29/2017 1:32:32 AM

+1 Boost

qwertyfla1: When factoring in the VW buyback (or no-cost fix) PLUS the handsome cash compensation, VW/Audi/Porsche owners in North America that are affected by Dieselgate are doing quite nicely! See atc98092's post as an example. I'm looking forward to my big fat check from Audi :-)

TheSteve - 12/28/2017 2:14:49 PM

+1 Boost

Any publicly traded company will spin and publicize its profit picture to make itself look better. Think of it as free PR.

Also, consider that VW is the target of multiple class-action lawsuits alleging that VW kept knowledge of the impending Dieselgate scandal under wraps for month, and in doing so, knowingly and willfully denied investors the information that would allow them to form an informed opinion and bail sooner, and thereby minimize their losses. When put in this context, you can see why VW is doing its best to tell the world (and investors) that they need not concern themselves with the "temporarily" reduced VW stock value.

Welcome to the corporate world :-(

qwertyfla1 - 12/28/2017 4:06:33 PM

-1 Boost

— atc98092

Good for you but only the US owners were comped like that everyone else is getting hind tit or nothing at all. This scandal has affected resale-ability of the cars as there are many myself included that wont give VW any of my business after pulling a fraudulent shenanigan like this while pretending to be green.

atc98092 - 12/28/2017 7:19:56 PM

+1 Boost

Hence my qualifier for the US market. :)

PUGPROUD - 12/28/2017 6:00:37 PM

+1 Boost

Check VW's accounting policies and financial footnotes. VW has paid out over $30 billion in fines and settlements. Record profits are a result of creative accounting to get everyone to believe all is well and good financially at the mother ship. Though legal and within generally accepted accounting principles, its how the numbers are put together that creates the illusion, especially how reserves are booked and accounted for reporting purposes.