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©Reuters. File photo: Volkswagen ID.5 electric car on display in the showroom of a car dealership in Les Eys, near Nantes, France, on November 13, 2023.Reuters/Stephane Mahe/File photo
BERLIN (Reuters) – Volkswagen (ETR:) said on Wednesday it expects orders in Western Europe to accelerate in the coming months thanks to the German automaker’s new models.
This also applies to electric cars already on the market, and Volkswagen has started the new year on a decidedly positive note, the company said. Volkswagen recently launched the ID.7 on the market. This year, more than 30 new models of his have been launched across the group.
Carmakers earlier this month announced subdued outlooks and dividend increases to reward shareholders ahead of what they expect to be an even tougher year for the auto market given rising costs, increased competition and higher inflation. .
The company is currently in cost-cutting mode, announcing plans to cut administrative staff costs by a fifth for its namesake brand, adding that this will be achieved through partial redundancies and early retirement rather than layoffs.
Volkswagen said the operating profit margin for its Core brand group would rise from 3.6% to 5.3% in 2023, an important step towards its 8% target.
The increase in sales for the group, which includes Volkswagen, Volkswagen Commercial Vehicles, ŠKODA and SEAT/CUPRA, was mainly due to strong sales growth, which rose by 21% to €137.8 billion ($150.55 billion). The company said that.
(1 dollar = 0.9153 euro)
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