Volkswagen’s operating profit for 2020 has almost halved

The world’s largest carmaker said its full-year operating profit, excluding costs related to the diesel emissions scandal, was 10 billion euros ($ 12.2 billion) from 19.3 billion euros a year earlier. Reuters.

Net cash flow in VW’s automotive division was about 6.0 billion euros.

However, a strong recovery in deliveries was recorded in the fourth quarter, the German company announced, reports Tanjug.

“Deliveries of Volkswagen Group vehicles to customers continued a strong recovery in the fourth quarter and even exceeded deliveries from the third quarter of 2020,” the group said in a statement. VW car sales rose 1.7 percent in December, while new car registrations fell nearly 4.0 percent in Europe in the same month, according to recent data from the European Automobile Manufacturers Association (ACEA).

The VW Group is expected to release detailed business data for 2020 on March 16.


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