Volkswagen achieved profits in the third quarter equivalent to double what it achieved in 2022

The result after taxes in the period from July to September was 4.35 billion euros. Sales rose by 12 percent to 78.9 billion euros.

The Volkswagen Group made double its profit in the third quarter than it did the previous year. However, this was mainly due to the depreciation of billions in the same period last year. In the months from July to September this year, the result after taxes amounted to 4.35 billion euros, DAX announced on Thursday.

In the same quarter of the previous year, the end of cooperation in software related to autonomous driving caused a burden of 1.9 billion euros. Volkswagen had already provided preliminary figures for its third-quarter performance last week, which the Wolfsburg-based company has now confirmed. Sales rose by almost twelve percent to 78.8 billion euros. The operating result grew by almost 15 percent to 4.89 billion euros.

As hedging transactions for raw materials and energy have a more negative impact this year than initially expected, Volkswagen last week lowered its profit forecast from the daily business for the full year. (APA/DPA)