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Volkswagen profit soars despite dieselgate as cost cuts start to pay off

Group operating profit jumped 40% to 4.37 billion euros in the three months to the end of March

Reuters  |  Berlin 

Volkswagen said profit at its troubled core division soared in the first three months of the year, a sign that long-overdue cost cuts are having an impact as the carmaker seeks to move beyond its diesel emissions crisis. VW, Europe's biggest carmaker, is aiming to beat rivals for profitability rather than chasing sales volumes through aggressive pricing as it invests billions of euros in electric cars, new mobility services and self-drive technology. First-quarter operating profit at VW's largest division surged to 869 million euros ($948.9 million) from 73 million a year ...

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First Published: Wed, May 03 2017. 18:27 IST