Volkswagen expects unfavorable second-quarter, but sees hope for later period

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Volkswagen expects a very unfavorable second quarter, but also sees a positive adjusted operating profit before special items for this year, Chief Financial Officer Frank Witter stated in an internal newsletter. The coronavirus crisis had caused results to deteriorate in the second quarter, the automaker said. “Nonetheless there is hope for the second half of […]

Volkswagen second-quarter profit to at least match 2017’s result

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Volkswagen group’s second-quarter operating profit should compare with 2017’s level of 4.55 billion euros ($5.54 billion) at least, finance chief Frank Witter stated. Underlying profit in the April-to-June period should “at the very minimum” match 2017 amount, Witter stated on Thursday during an earnings call, after the automaker published a 3.6 percent fall in first-quarter […]