Volkswagen Sees Profit Rise But Warns On Trade Disputes
FRANKFURT, Germany (AP) - Volkswagen said its earnings rose in the second quarter on record sales and fatter profit margins, but warned that "growing protectionism" is a threat to the globally connected car industry. 3.85 billion) euros, despite a charge of 1.6 billion euros for the company's lingering diesel emissions scandal. Revenues rose 3.4 percent to 61.14 billion euros and the operating profit margin rose to 9.1 percent from 7.7 percent. FILE - In this Friday, April 13, 2018 file photo, Volkswagen logo is pictured in front of a company building in Wolfsburg, Germany. CEO Herbert Diess said that the company "cannot rest on its laurels" due to coming challenges such as new, tougher emissions certification for vehicles. Automakers are facing bottlenecks in testing and approval under the new European emissions standards, which require testing the cars in real driving conditions. In September 2015 U.S. Volkswagen using software that turned emission controls on during stand testing, and off during real driving.
Since then, the company has had to set aside 27.4 billion euros to cover fines, penalties and other costs. The CEO of the luxury division Audi, Rupert Stadler, was jailed June 18 at the initiative of prosecutors in Munich, who are investigating possible fraud and illegal advertising in connection with suspected emissions manipulation. In the wake of the diesel scandal, it became clear other automakers' cars also emitted more pollution during real driving than reflected in the tests. That could result from loopholes that permitted manufacturers to turn down emissions controls in cold weather to avoid engine damage. Diess meanwhile warned that "growing protectionism also poses major challenges for the globally integrated automotive industry." U.S. President Donald Trump has imposed new tariffs on steel, aluminum and Chinese goods. The Chinese retaliated with tariffs on autos from the U.S. Trump had threatened to impose tariffs on imported European cars but held off after talks with European Commission President Jean-Claude Juncker. Volkswagen reported record sales volumes for the first six months of the year of 5.5 million vehicles, an increase of 7.1 percent. Last year, it contested the title of largest carmaker with the Renault-Nissan-Mitsubishi alliance by logging 10.7 million in unit sales. Renault-Nissan-Mitsubishi had 10.6 million but its top executive said that Volkswagen achieved the edge by counting trucks. This photo provided by Volkswagen shows the 2013 Volkswagen GTI, a small hatchback that provides tons of thrills. With a powerful turbocharged engine and high-quality interior, the GTI is fun to drive, practical and even somewhat luxurious.
Is the 2003 VW GTI electric or gas? The 2003 Volkswagen GTI is a gas-powered vehicle. How long is roadside assistance included with the 2003 Volkswagen GTI? The 2003 Volkswagen GTI includes 4 yr./ 50000 mi. Is the 2003 Volkswagen GTI front wheel drive rear wheel drive or four wheel drive? The 2003 Volkswagen GTI has front wheel drive. What is the cargo capacity of the 2003 Volkswagen GTI with all seats in place? The 2003 Volkswagen GTI has 18 cu.ft. How tall is the 2003 VW GTI? The height of the 2003 Volkswagen GTI is 4 ft. 8.7 in. (56.7 in.). What is the drag coefficient of the 2003 VW GTI? The 2003 Volkswagen GTI has a drag coefficient of 0.31 Cd. How long is the 2003 VW GTI? The 2003 Volkswagen GTI is 13 ft. 8.9 in. (164.9 in.) long. What is the city and highway range of the 2003 Volkswagen GTI in miles? The EPA range estimate for the 2003 Volkswagen GTI is 304.5 mi. 406.0 mi. on the highway. What is the EPA city and highway mileage estimate for the 2003 Volkswagen GTI? The EPA mileage estimate for the 2003 Volkswagen GTI is 21 mpg in the city, 28 mpg on the highway. What is the rear track of the 2003 VW GTI? The rear track of the 2003 Volkswagen GTI is 4 ft. 10.8 in. (58.8 in.). What is the drivetrain warranty on the 2003 VW GTI? The drivetrain warranty of the 2003 Volkswagen GTI is 5 yr./ 60000 mi.. What is the front track of the 2003 VW GTI? The front track of the 2003 Volkswagen GTI is 4 ft. 11.6 in. (59.6 in.).
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