September 19, 2020

Volkswagen earns 10,000 million euros in the first six months of the year


Berlin correspondentUpdated:

Wind in their sails. The world's largest automaker draws strength from weakness and it presents semiannual results rather than solvents relying on the "Dieselgate" exit strategy. In the first six months of this year, Volkswagen AG has generated a profit of 10,000 million euros, almost 2,000 million euros more than in the same period last year. This is stated in the statement published early from its headquarters in Wolfsburg. With the reported increase in earnings, Volkswagen distinguishes itself from other car manufacturers such as BMW and Daimler, which currently publish weaker numbers and forecasts.

Taking into account only the second quarter, Volkswagen increased its operating profit by almost 30% to 5,100 million euros. This spectacular increase is due to Volkswagen had reserved 1.6 billion euros in relation to the diesel scandal a year ago, a weight that weighed the balance sheet. But there are also objective reasons for the favorable diagnosis, such as turnover, which increased almost 7% to 65,000 million euros. «In the first half of the year, The Volkswagen Group did very well in a global market in general weakened, ”explains the chief financial officer of the company, Frank Witter.

In contrast to its competitors, Volkswagen again confirms its forecast for this year: according to this, the manufacturer with its twelve brands continue to expect an increase in sales of up to 5% and an operating performance of special items between 6.5% and 7.5%.

The key seems to be in sales in Asia and in adapting the brand to new sales platforms. Amazon MexicoFor example, it is collaborating with Volkswagen to sell the latest Beetles and the action has become a creative e-commerce bet that generates relevance guidelines and achieves results that dealers cannot obtain.

The long shadow of the "Dieselgate"

These figures are undoubtedly a relief for the board, which faces a new phase of diesel fraud in which the trials it has had to face in the US They multiply now in Europe. The Koblenz Territorial Court, in western Germany, has recently condemned the automobile consortium to pay 26,000 euros of compensation to the buyer of a Sharan model for causing "deliberate damage" to the handling of diesel engine emissions data. The sentence, which is not yet firm and must be examined by the Supreme Court, It is the first of a second instance court in Germany that directly affects the consortium. Until now, there had been rulings against dealers, but not directly against the manufacturer. With the decision of Koblenz the legal risk for the consortium increases, since it could be forced to pay millionaire compensation.

Currently, 400,000 VW customers have joined a model lawsuit that aims to determine whether the consortium should compensate buyers of manipulated diesel vehicles. In addition, others 40,000 customers have been directly complained against the consortium and ask for compensation. VW has announced that it will appeal the sentence, so that the decision will remain in the hands of the Supreme Court.

The buyer had requested the full refund of the price paid for the car, the same rgrowth they are getting in the US Buyers of Volkswagen vehicles affected by diesel fraud, which was rejected by a court of first instance, and therefore appealed to the Territorial Court of Koblenz. VW had offered the payment of 21,000 euros in an out-of-court settlement, an agreement rejected by the buyer.

The Koblenz Territorial Court determined that VW had effectively caused damage to the client, for which he must pay compensation However, he considered that with the use of the vehicle the client had had a economic advantage and that in the amount paid you have to take into account the repair of the car, which had originally cost 32,000 euros. Now the case is ongoing at the Supreme Court and will set jurisprudence for the rest of the 450,000 affected buyers throughout Europe.

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