Business & Economy

Volkswagen posts record first half profits after pandemic losses

Frankfurt, Germany, Jul 29 (EFE).- The Volkswagen group has posted a net profit of 8.1 billion euros ($9.6 billion) until June, compared to a loss of 1.2 billion euros a year ago, riding on a strong recovery in sales following a collapse last year due to the pandemic, the company reported Thursday.

Europe’s largest car maker posted a record first-half operating profit of 11.4 billion euros, compared to a loss of 1.49 billion euros last year, with an 8.8 percent return on sales.

The operating result has surpassed the previous record of 10 billion euros 2019, prior to the crisis due to the pandemic.

Turnover increased by 34.9 percent, to 129.7 billion euros, and deliveries to customers rose by 27.9 percent, with 4.97 million units, in the first half of the year.

The Volkswagen group has said it has successfully managed to contain the impact of the Covid-19 pandemic, and the group’s chairman Herbert Diess has said the company’s strong performance was expected to continue. EFE


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