The Volkswagen Group posted a profit of 16.9 billion euros in 2019, an increase of 21.8 percent compared to the previous year. Virtually all brands within the group turned profits last year.
Profit for the Volkswagen brand amounted to EUR 3.8 billion excluding exceptional items, while turnover rose by 4.5 percent to EUR 88.4 billion. Profit was also made in the past year at Bentley, Porsche, Seat and Skoda. Audi saw both profit and turnover fall.
Volkswagen’s commercial vehicle division produced more or less the same in 2018 as in 2018 and posted an operating profit of 510 million. MAN trucks performed better. With 1.5 billion euros, the branch turned 24.8 percent more profit than in the previous year.
Volkswagen CEO Herbert Diess expects the company to continue to play a leading role in a market that he believes is undergoing “radical changes” in the coming years. Volkswagen cannot yet say how the coronavirus outbreak will affect results this year.