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Volkswagen Group Revenue Up 26.3% in First Quarter

Volkswagen Group is launching 40 new models this year many of them focusing on sustainability.

We reported on Volkswagen Group's unit sales a few weeks ago, and the company was doing quite well with unit sales up 9.6% over the previous quarter. Now, Volkswagen has reported its financial revenue for the first quarter, and it is doing even better. Revenue was up 26.3% to €47.3 billion in the first quarter with €3.2 billion in profit an 10.2% increase.

In its financial statement, Volkswagen said that it has a net liquidity of €15.8 billion, which is actually down since December when it reported a liquidity of €17.0 billion. Volkswagen says that it that time it has spent €1.7 billion property, plants and equipment, and that a large portion of the money was to change factories over to its new Modular Transverse Toolkit.

Similar to the unit sales numbers, all of VW Group's brands except for Seat experienced an increase in profit. VW's were up 5.3%; Audi's were up 26.6%; Skoda was up 11.8%; Seat lost €29 million; Bentley's profits were up €40 million; VW Commercial Vehicles was up 34.1%; Scania had a profit of €262 million, but that was €115 lower than last year; MAN had €223 million in profits.

Volkswagen Group thinks it can keep up this growth because it is planning on launching 40 new models this year.