Volkswagen on Tuesday said it will launch almost 70 new electric models by 2028,...
FILE PHOTO: A Volkswagen logo is pictured in a production line at the Volkswagen plant in Wolfsburg, Germany March 1, 2019. REUTERS/Fabian Bimmer/File Photo
The profit margin at its core VW brand slipped to 3.8 percent last year, down from 4.2 percent, as higher investments into electric cars and challenges getting combustion-engined vehicles certified ate into profits, VW said. The carmaker’s Audi and Porsche brands made up the lion’s share of VW Group’s operating profit. Before special items, Audi’s operating profit accounted for 4.7 billion euros and Porsche’s 4.1 billion euros. Its VW brand delivered 3.2 billion euros in operating profit before special items, the carmaker said.
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