Volkswagen Group (VW) released strong results last week as their earnings and profit margins exceeded pre-pandemic levels. The company’s earnings were driven by its luxury brands. Both Porsche and Audi saw profit margins in the double digits and experienced record unit sales for the first half of the year. Despite the ongoing shortage of electronic parts, VW made the move to raise its profit outlook for the full year. However, the company did take ongoing shortages of semiconductor parts into account as it lowered its forecast for deliveries to customers. The company’s sales rose 35% over the first half of last year to 129.7 billion euros, and operating earnings were 11.4 billion euros, numbers that are higher than the company’s sales and earnings in the first six months of 2019. (Source: Pique News Magazine) Read the original article…
