2023-07-27 08:08:07 ET
Volkswagen press release ( OTCPK:VWAGY ): 1H GAAP EPS of ?14.86.
Revenue of ?156.26B (+18.2% Y/Y).
Sales revenue increased 18.2% as the company stemmed some of its losses in China, where sales were down 1.2%.
The Wolfsburg, Germany-based company has announced partnerships between its Volkswagen brand and local electric carmaker Xpeng as well as the expansion of cooperation between its Audi luxury brand and local partners FAW and SAIC.
While affirming its earnings outlook for the year, the company lowered its outlook for deliveries to 9 million to 9.5 million vehicles, from 9.5 million earlier.
The company sold 4.4 million cars during the first six months of the year, up 13% on strong performance outside China. Non-China sales rose 21%.
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Volkswagen GAAP EPS of ?14.86, revenue of ?156.26B