Volkswagen Cautious Despite Upbeat Results

July 2006 | Company News Alert

The chief executive of Volkswagen Bernd Pischetsrieder is cautious about the carmaker's future despite unveiling better-than-expected results for the second quarter. Volkswagen reported a massive 49% increase in operating profit to EUR1.3bn. Turnover was up 8% to EUR26.6bn on the back of a 9.2% increase in sales, which in turn was boosted by the success of new versions of the Passat and A4 models. The figures have also been boosted by new product launches and the sale of the group's car rental unit

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