The German automaker Volkswagen Group announced a 22% increase in its revenues in the first quarter of this year, mainly driven by sales growth in Western Europe and North America.
The group indicated that the value of sales amounted to 76 billion euros (84 billion US dollars), compared to 62 billion euros in the same quarter in 2022 .. operating profits grew by 35 percent to about 7.1 billion euros, if hedging transactions are excluded .. and if they are included, Operating results fell by 31% to 5.7 billion euros.
Profits after tax amounted to 4.7 billion euros, compared to 6.7 billion euros at the beginning of 2022. Total deliveries in the first quarter rose by 7.5%, and deliveries of all-electric vehicles jumped 42%.
There is a backlog of 1.8 million vehicles in Western Europe alone.. However, results were not as strong in China.. Volkswagen Group delivered 14.5% fewer vehicles there compared to last year.
