The large car manufacturers report one after the other of drastic burglaries. With the Volkswagen brand, the profit is currently almost complete: a decrease of almost 85 percent! Another group brand, on the other hand, is increasing.
It is not because VW would not sell cars, on the contrary: given an increasing demand for the ID of the electric cars.4 and ID.7 as well as different combustion models, sales rose and the EUR 21.2 billion was 10.2 percent higher than a year ago.
Above all, there are provisions (for the amount of EUR 600 million) because of stricter CO2 goals in Europe, depreciation on export vehicles in the US and the follow-up costs of the diesel scandal that really go into money. According to the company, the operational result collapsed by 84.9 percent to EUR 112 million. The return was only 0.5 percent, after 3.9 percent a year ago.
Drastic slump also with set/cupra
The Chair/Cupra brand suffered from the import duties for electric cars from China to Europe. Here the profit collapsed to only 5 million euros – in the previous year it was 226 million euros. Cupra imports the Tavascan from the People’s Republic and has to pay an extra customs of 20.7 percent, which penetrates the margin. The company, on the other hand, was better at the Czech brand Skoda, which improved their profit to 546 million euros.
In general, the operational result of the Volkswagen Group said by around 37 percent to EUR 2.9 billion.
Flying flight from other manufacturers
Tesla recently reported a $ 71 percent to $ 409 million compared to the same period last year. Mercedes-Benz said that because of the unclear American customs policy, people could no longer give an annual prospect. The company spoke about a solid result in a dynamic market environment. The sales efficiency of the core division of Mercedes-Benz Cars continued to erodize from 9.0 to 7.3 percent.
Stellantis has withdrawn his annual prediction because of the uncertainties surrounding American import rates.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
