Car Group Volkswagen Expects Better Performance in 2021

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Volkswagen expects that the German car group expects that turnover, profitability, and sales will increase this year, after the problematic corona year 2020.

 

It is essential, however, that the corona pandemic is successfully contained, the company reported.

The largest car manufacturer in Europe saw its net profit plummet by 37 percent last year to 8.8 billion euros. Turnover decreased by 12 percent to nearly EUR 223 billion.

Parent company’s sales of brands such as Volkswagen, Audi, Skoda, Porsche and Seat fell by more than 16 percent to nearly 9.2 million vehicles.

Chief Financial Officer Frank Witter said Volkswagen successfully resisted the effects of the corona crisis last year and that the strong momentum of the second half should be continued.

However, market conditions remain challenging, according to the Wolfsburg company.

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