Las ganancias de Volkswagen se hunden 20% por las bajas ventas y los altos costos [ENG]

Las ganancias del primer trimestre de Volkswagen AG cayeron después de que las ventas de automóviles disminuyeron. El beneficio operativo disminuyó en una quinta parte a 4.600 millones de euros (4.900 millones de dólares) en el período, dijo Volkswagen el mar…

#2 Volkswagen AG’s first-quarter earnings fell after waning car sales and the cost of introducing new models weighed on profitability.

Operating profit declined by a fifth to €4.6 billion ($4.9 billion) in the period, Volkswagen said Tuesday, broadly in line with analyst expectations. The manufacturer confirmed its outlook for the full year.

“As expected, our first quarter results show a slow start to the year,” Chief Financial Officer Arno Antlitz said. “A strong March, the solid order bank and the improving order intake in the past months are encouraging and should already have a positive impact in the second quarter.”

Volkswagen isn’t alone with its difficult start to the year. Mercedes-Benz Group AG’s first-quarter earnings, reported earlier Tuesday, plummeted by around a third over model changes and sluggish demand for EVs. Stellantis NV’s first-quarter revenue fell amid slow sales in the US. On Monday, shares of Porsche AG declined after the luxury-car maker posted its worst quarterly result since listing in September 2022.

Volkswagen’s brands plan to introduce more than 30 models this year to defend sales in markets including China, where local rivals dominate on electric vehicles. Parts problems recently impacted deliveries of Audis and Porsches in the US.

Chief Executive Officer Oliver Blume is pushing technology partnerships — including in China with Xpeng — and cost cuts to challenge the likes of BYD, Tesla and Stellantis. Volkswagen’s namesake brand, meanwhile, is implementing a €10 billion savings plan.

(Updates with Stellantis earnings. A previous version of this story corrected a reference to analyst expectations.)

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