Volkswagen profit drops 20% in first quarter on lower sales

107407942 1714457371438 gettyimages 1645172439 AFP 33UD3LP scaled


A man polishes a Volkswagen ID GTI Concept car on display at the International Motor Show (IAA) in Munich, southern Germany, on Sept. 5, 2023. 

Christof Stache | Afp | Getty Images

German carmaker Volkswagen on Tuesday said its operating profit dropped by 20% in the first quarter as weaker demand for its premium brands drove a drop in sales.

Operating profit came in at 4.6 billion euros ($4.9 billion) in the first three months of 2024, the company said. In the same time period in 2023, operating profit was 5.7 billion euros.



This article was originally published by a www.cnbc.com

Read it HERE

Share

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *