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Volkswagen group reported half - year increase in global passenger car market share

Volkswagen group reported half - year increase in global passenger car market share
Issue Time:2019-07-29
Volkswagen group reported half - year increase in global passenger car market share
Volkswagen group delivered 5.4 million vehicles worldwide in the first half of the year, expanding its share of the passenger car market in a declining global market. Volkswagen group reported a 4.9 percent increase in sales revenue to 125.2 billion euros in the first half of 2019, and a 10.3 percent increase in operating profit to 900 million euros, according to its official financial report. Despite negative sales growth, sales revenue increased, particularly due to improved mix and price positioning in the passenger vehicle business area and good growth in the financial services division and TRATON. In terms of Volkswagen group's brands, Volkswagen's first-half sales revenue was 44.1 billion euros, up 3.4% year-on-year. Based on first-half sales, vw expects deliveries in 2019 to be slightly higher than in 2018. Sales of Volkswagen group and passenger and commercial vehicles will increase by 5% compared with 2018. In terms of operating profit, the group expects a return on operating sales of between 6.5% and 7.5% in 2019.

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