{"id":123960,"date":"2021-05-06T07:21:35","date_gmt":"2021-05-06T07:21:35","guid":{"rendered":"https:\/\/precoinnews.com\/?p=123960"},"modified":"2021-05-06T07:21:35","modified_gmt":"2021-05-06T07:21:35","slug":"volkswagen-lifts-margin-target-on-demand-for-premium-cars","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/volkswagen-lifts-margin-target-on-demand-for-premium-cars\/","title":{"rendered":"Volkswagen lifts margin target on demand for premium cars"},"content":{"rendered":"<ul>\n<li>Now expects operating margin of 5.5-7% in 2021<\/li>\n<li>First quarter operating profit 4.9 billion euros versus 0.9 billion last year<\/li>\n<li>Shares indicated 1.2% higher <\/li>\n<\/ul>\n<p>In this article<\/p>\n<ul>\n<li><span>GM<\/span><\/li>\n<li><span>VOW3-DE<\/span><\/li>\n<\/ul>\n<p>Volkswagen, Europe&#x27;s largest car maker, raised its operating margin target for 2021 on Thursday, pointing to stronger demand for more profitable cars in the first three months of the year.<\/p>\n<p>The group now expects its operating profit margin to be 5.5-7% this year, versus a previous forecast for 5.0-6.5%, with vehicle deliveries and sales each up by more than a fifth.<\/p>\n<p>The better outlook is mainly driven by improved demand for high-margin premium cars such as Porsche and Audi, a trend that has also been observed by rivals General Motors, Daimler and Ford and Stellantis.<\/p>\n<p>&quot;We started the year with great momentum and are on a strong operational course. This is clearly reflected in our positive quarterly figures,&quot; Volkswagen AG CEO Herbert Diess said.<\/p>\n<p>&quot;Our successful e-offensive continues to gain momentum and we have significantly expanded it with attractive new models.&quot;<\/p>\n<p>Shares in the group were indicated to open 1.2% higher in pre-market trade.<\/p>\n<p>Volkswagen&#x27;s operating profit came in at 4.9 billion euros ($5.9 billion) in the first quarter to March, helped by cost cuts and higher sales, versus 0.9 billion in the same period last year that was impacted by the Covid-19 pandemic.<\/p>\n<p>Its improved outlook for the year comes even though the car maker expects the impact of an ongoing shortage of crucial automotive chips to intensify in the second quarter.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/05\/06\/volkswagen-lifts-margin-target-on-demand-for-premium-cars.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Now expects operating margin of 5.5-7% in<\/p>\n","protected":false},"author":3,"featured_media":123959,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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