Volkswagen Cuts Sales Outlook as Profit Jumps
German auto giant Volkswagen (OTC: VWAGY) reported Wednesday that its third-quarter operating profit had jumped 68% to 4.5 billion euros ($5 billion) thanks to strong sales of SUVs and Porsches, as well as lower expenses related to the diesel-emissions scandal. But it dialed back its forecast for deliveries for the full year due to concerns about slumping global demand.
Data source: Volkswagen AG. As of Oct. 30, 1 euro = $1.11. YOY = year over year. pp = percentage point.
Sales of Porsche's profitable Cayenne SUV were up 25% this year through September. Image source: Volkswagen AG.
Source Fool.com
