VW Group Profits Up Thanks to Strong Brand Performance

Although it has yet to publish detailed first quarter results, the Volkswagen Group has announced that its profits are up significantly higher than it projected. The high profits, it says, are thanks to the VW brand’s strong numbers.

The VW brand is the biggest in the group, so the financial performances of the two closely linked. As a result, the Brand’s struggles in recovering from the dieselgate scandal have been felt acutely by the Group.

This strong performance, then, is an indication that things are headed in the right direction.

The VW brand has achieved operating earnings of around €900 million, which is up significantly from last year’s first quarter, when the company only made €73 million. As a result of the increase, the Group’s operating result is up to 4.4 billion euros so far this year.

According to VW, the new Tiguan, along with other new models, are to thank for the improvement. The western European market also performed well this quarter, which helps.