Volkswagen posts record first-half earnings and raises profit margin target

The German automaker saw first-half operating profit before special items hit 11.4 billion euros, exceeding pre-pandemic levels.

Technicians work in the assembly line of German carmaker Volkswagen's electric ID. 3 car in Dresden, Germany, June 8, 2021.posted record first-half earnings on Thursday while also raising its target for profit margin. As a result, Volkswagen upped its profit margin target for the second time in three months. The company now expects an operating return on sales of between 6% and 7.5%, having previously projected 5.5% to 7%.

"The premium segment performed especially well with double-digit returns, as did Financial Services. Our electric offensive is picking up momentum.""Challenges will arise particularly from the economic situation, the increasing intensity of competition, volatile commodity and foreign exchange markets, securing supply chains and more stringent emissions-related requirements," it said in the earnings report.

VW also had almost 10% (9.7%) margins in the 2Q, without selling any non-existent software. $TSLA

thanks

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Universal Music Earnings Soar 38 Percent in First Half of YearUniversal Music Group’s earnings for the first half of 2021 surged ahead of the music major’s planned September stock market debut, French media and telecom giant Vivendi said on Wednesday. Revenue… Before Himanta, all the seven sisters lived in peace 🦄 shame_on_assam shameonassamcm shameonhimantabiswasarma cancelassamCM shameonassam assamshotfirst gobackassam shameonHimantaBiswasarma I miss EMI
Source: THR - 🏆 411. / 53 Read more »

Barclays beats profit estimates and ups shareholder payments as equities, investment banking surgeBarclays beat second-quarter profit expectations on Wednesday and boosted returns to shareholders, with its investment banking and equities businesses posting record incomes. nice
Source: CNBC - 🏆 12. / 72 Read more »

Nissan raises earnings outlook, optimistic chip crunch will easeJapanese automaker Nissan Motor Co (7201.T) on Wednesday raised its earnings outlook for the year, helped by a weaker yen and favourable demand in the United States and China, after reporting a surprise first-quarter operating profit.
Source: Reuters - 🏆 2. / 97 Read more »