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Volkswagen will report earnings on the 26th of the month as Western European car sales continue trending strongly at an adjusted +2.3% year on year in the first quarter of 2018 driven a good demand in Germany, France and Spain. The US and China also producedVolkswagen gradually returning to form
Volkswagen will report earnings on the 26th of the month as Western European car sales continue trending strongly at an adjusted +2.3% year on year in the first quarter of 2018 driven a good demand in Germany, France and Spain. The US and China also produced good figures despite headwinds. The first quarter of 2018 is expected to be solid for Volkswagen. Taken individually all VW Group brands appear to be visibly doing well or making solid progress. A flurry of new models for Skoda, Seat, Audi and even the core VW brand seem to have injected renewed optimism. Volkswagen to outperform peers in the auto sector due to a quick recovery from the diesel emissions scandal and a reduction in the cost base due to evolving manufacturing processes. Diesel scandal The diesel scandal that came to light in September 2015 has so far required VW to make €25.8 billion of provisions to counter litigation, fines and compensation charges. Financial results as a consequence suffered. However, the worst fallout from the scandal was the impact on VW’s reputation. While the VW group recovered relatively quickly form the effect of the scandal, winning back customer trust is much more difficult. VWs... Read more