VW Announces Record Sales Results
Aug. 3, 2018—Volkswagen has announced that its earnings rose in the second quarter on record sales and larger profit margins. According to an Associated Press report. The automaker recently said that profits increased 6.8 percent to $3.85 billion. U.S. revenues also rose 3.4 percent, and the operating profit margin rose to 9.1 percent from 7.7 percent.
That said, VW CEO Herbert Diess said that the company “cannot rest on its laurels” due to coming challenges like new, tougher emissions certifications for vehicles.
OEMs are facing bottlenecks in testing and approval under the new European emissions standard, which requires testing vehicles in real driving conditions. And, VW has had the added challenge of overcoming its well-documented diesel emission scandal, making its recent sales numbers all the more impressive as a result.